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Ruler of UAE’s RAK announces 50% cut to fees for some firms

Ruler of UAE’s RAK announces 50% cut to fees for some firms

The measure is intended to support businesses hit by infrastructure works

The ruler of the UAE emirate of Ras Al Khaimah has exempted 272 firms from paying half of the renewal fees and fines they owe to government departments.

The announcement by Sheikh Saud bin Saqr Al Qasimi, who is a member of the country’s Supreme Council, is intended to support companies impacted by infrastructure works in Muairadh conducted by the Public Services Department.

Dr Abdulrahman Al Shayeb Al Naqbi, director general of the Economic Development Department, “stressed that Sheikh Saud’s directives are part of his keenness to support the local business sector and help them overcome their difficulties caused by the temporary circumstances”, according to state news agency WAM.

“He also pointed out that the decision is in line with the department’s efforts to support the local business sector while noting that it will help adjust the status of local establishments and release them from their financial burdens.”

Business owners are urged to benefit from the 50 per cent exemption and settle their status with local government departments before the deadline.

Similar cuts to fees and fines have been announced in other emirates including Dubai, Abu Dhabi and Ajman.

Read: Abu Dhabi to exempt all new economic licences from local fees for two years

Read: UAE emirate cuts fees, fines for Ramadan


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