Dubai will not raise government fees for the next three years to boost the emirate’s competitiveness, according to Dubai Media Office.
Crown Prince Hamdan bin Mohammed Al Maktoum confirmed the move in a series of tweets.
تنفيذاً لتوجيهات صاحب السمو الشيخ محمد بن راشد آل مكتوم أمرنا بعدم زيادة رسوم حكومة دبي خلال السنوات الثلاث المقبلة
— Hamdan bin Mohammed (@HamdanMohammed) March 4, 2018
He said it would promote social stability and have a positive impact on all segments of society.
“It also supports Dubai’s economic competitiveness and consolidates continued government support for the social and investment environment in the emirate,” the crown prince indicated.
Last week, his father UAE Vice President and Prime Minister and Dubai Ruler Sheikh Mohammed bin Rashid Al Maktoum confirmed that the UAE federal government would also not be raising fees for the next three years.
He said it would support the industrial and commercial sectors and attract foreign investment.
The commitment follows the introduction of a 5 per cent value added tax (VAT) rate on January 1 and an excise tax on tobacco products and soft drinks in October.
Some businesses have struggled with the introduction of VAT, prompting the UAE government to extend a registration deadline last week.