Corona – stimulus package to support businesses

Indirect tax measures

* Refund of 20 per cent on the custom fees imposed on imported products sold locally in Dubai markets

* Cancellation of the Dhs50,000 bank guarantee or cash required to undertake customs clearance activity. Also, bank guarantee or cash paid by existing customs clearance companies will be refunded

* Fees imposed on submitting customs documents of companies will be reduced by 90 per cent

* The requirement for providing a banking instrument while submitting customs-related grievances has been cancelled

* Cancellation of the 25 per cent down payment required for installment-based payment of government fees for obtaining and renewing licences. The move seeks to reduce the financial burden on SMEs

* Commercial licences can be renewed without mandatory renewal of lease contracts

* Companies will be exempt from permits for new sales and offers

* Reduction of municipality fees imposed on sales at hotels from 7 per cent to 3.5 per cent. In 2018, the fees was reduced from 10 per cent to 7 per cent

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