The Executive Council of the Emirate of Sharjah has announced a 50 percent discount on fines for the non-renewal of business licenses, according to a statement by Emirates News Agency (WAM).
However, the discount is only valid for business owners rectifying their status within a four-month window, beginning July 10.
The announcement follows the decision approved by Sheikh Abdullah bin Salem bin Sultan Al Qasimi, Deputy Ruler of Sharjah and Deputy Chairman of the Executive Council during a meeting chaired by him.
Moreover, the new initiative is part of Sharjah’s efforts to offer ideal economic incentives, thus boosting the growth of the local market.
In addition, the Council also granted the Department of Economic Development to sign a Memorandum of Understanding (MoU) with the Ministry of Industry and Advanced Technology.
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