Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and chairman of Dubai Executive Council, has issued a resolution approving the payment of selected Dubai government fees and fines in instalments.
The resolution aims to support individuals and entities in fulfilling their financial obligations and enhance the process of collection of government fees and fines, a statement said.
According to the resolution, relevant government entities have been tasked with preparing lists for fees and fines that can be paid in instalments and submitting them to Dubai’s Department of Finance for approval.
The lists must comply with the Department of Finance’s policies and procedures, the statement added.
Fees that can be paid in instalments must be over AED10,000 for individuals and AED100,000 for businesses while the fines that can be paid in instalments must be over AED5,000 for individuals and AED20,000 for businesses.
As per the resolution, the instalments must be paid through the mechanisms defined by the Department of Finance and the instalment period must not exceed two years.
The Department of Finance may grant exceptions on such conditions in response to a petition from the concerned government department, the statement said.For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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