Ras Al Khaimah: Violation, late payment fees scrapped for companies in events sector
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Ras Al Khaimah: Violation, late payment fees scrapped for companies in events sector

Ras Al Khaimah: Violation, late payment fees scrapped for companies in events sector

The new exemptions follow an earlier set of measures that were approved last year

Exhibition organisers, wedding halls and event venues in Ras Al Khaimah will be exempt from 100 per cent of their licencing fees, violation charges and late payment penalties for 2021, the Ras Al Khaimah Department of Economic Development (RAKDED) has announced.

The exemption remains valid for one year from the date of implementation, allowing relevant entities to benefit from the waiver in case they need to renew their licence as per the expiration date. The decision is in line with the directives from Sheikh Saud bin Saqr Al Qasimi, UAE Supreme Council Member and Ruler of Ras Al Khaimah, to support businesses and boost economic activity in the emirate.

The new exemptions follow an earlier set of measures that were approved last year, which waived 50 per cent of trade licensing fees, as well as exempting establishments from violations and late fees.

The stimulus package introduced last year which targeted the exhibitions sector, included a 50 per cent waiver from the Ras Al Khaimah Chamber of Commerce and Industry on outdoor exhibition permits until the end of 2020, as well as a 25 per cent exemption for consumer and specialised exhibitions held at the Ras Al Khaimah Exhibition Center until the end of last year.

Companies operating in this sector are receiving support in an attempt to boost the emirate’s economic competitiveness.

A series of stimulus packages introduced by Ras Al Khaimah over the course of the past year covered various sectors and benefitted 15,000 companies, including a 25 per cent discount on new residency visas for family members; a 60-day grace period for the extension of trade licences; exemption of fees for tenants of municipality-owned markets for a period of three months; and reduced fees for issuing health cards, among others.

In August last year, RAKDED was directed to offer nurseries a 50 per cent exemption from their annual trade licence renewal fees. Additionally, establishments that closed to allow their facilities to be used for quarantine purposes were to benefit from a 25 per cent exemption.

Read: RAK’s Sheikh Saud orders exemption of renewal fees for select commercial activities to counter Covid-19

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