The Dubai Department of Economic Development has reminded owners of business establishments and companies that the grace period to pay fines at the reduced rates will expire by 30th this month.
The concessions were granted as per a decree issued by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.
The Decree No. 1/Year 2012 stipulated to reduce the amount of the fines in accordance with the rates and periods specified in the table annexed with it.
The violations existed prior to the issue of the decree on 5th January 2012 only will be eligible for reductions.
According to the table, 40 per cent of the amount is waived on fines payable from the date 1/1/2012 until 29/2/2012.
A total of 30 per cent was to be reduced from fines payable between the dates 1/3/2012 and 30/4/2012 and 20 per cent from fines payable between 1/5/2012 and 29/6/2012.