(MENAFN- Emirates News Agency (WAM)) In his capacity as Ruler of Dubai, UAE Vice President and Prime Minister, His Highness Sheikh Mohammed bin Rashid Al Maktoum has issued Decree No 10 of 2015 pardoning and reducing fines imposed on businesses in the Emirate of Dubai.
The Decree aims to encourage businesses to rectify their status by cancelling or renewing their licenses, update their information in the records of Dubai's Department of Economic Development and provide accurate information about the numbers of active businesses in the Emirate of Dubai.
The Decree pardons businesses whose license expired before 2012 from the imposed fines if they apply for license cancellation, and such fines are pro rata reduced, according to a table addendum to the Decree, if the license cancellation request is submitted within six months starting from the date of activation of the Decree. The Director General of Dubai's Department of Economic Development may extend this grace period for another month only.
This Decree is to be published in the Official Gazette, and considered valid from the date of publication.
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