Menu
  • Locations
  • WTS Global
  • Culture & Career
  • Our Experts
  • Our Services
  • News
  • Knowledge
  • Locations
  • Search
  • Press
  • Events & Webinars
  • Contact
  • Member Login
  • CI Guide
  • Albania
  • Angola
  • Argentina
  • Armenia
  • Australia
  • Austria
  • Bangladesh
  • Belarus
  • Belgium
  • Benin
  • Bolivia
  • Brazil
  • Bulgaria
  • Burkina Faso
  • Burundi
  • Cambodia
  • Cameroon
  • Canada
  • Chile
  • China
  • Colombia
  • Costa Rica
  • Croatia
  • Cyprus
  • Czech Republic
  • Denmark
  • Dominican Republic
  • Ecuador
  • Egypt
  • El Salvador
  • Estonia
  • Finland
  • France
  • Georgia
  • Germany
  • Ghana
  • Gibraltar
  • Greece
  • Guatemala
  • Guinea
  • Honduras
  • Hong Kong
  • Hungary
  • Iceland
  • India
  • Indonesia
  • Iran
  • Iraq
  • Ireland
  • Israel
  • Italy
  • Ivory Coast
  • Japan
  • Kazakhstan
  • Kenya
  • Korea
  • Kyrgyzstan
  • Laos
  • Latvia
  • Lithuania
  • Luxembourg
  • Macao
  • Macedonia
  • Madagascar
  • Malaysia
  • Mali
  • Malta
  • Mauritius
  • Mexico
  • Moldova
  • Mongolia
  • Montenegro
  • Morocco
  • Mozambique
  • Myanmar
  • Nepal
  • Netherlands
  • New Zealand
  • Nicaragua
  • Niger
  • Nigeria
  • Norway
  • Pakistan
  • Panama
  • Paraguay
  • Peru
  • Philippines
  • Poland
  • Portugal
  • Puerto Rico
  • Romania
  • Russia
  • Rwanda
  • Saudi Arabia
  • Senegal
  • Serbia
  • Singapore
  • Slovakia
  • Slovenia
  • South Africa
  • Spain
  • Sri Lanka
  • Sweden
  • Switzerland
  • Taiwan
  • Tanzania
  • Thailand
  • Togo
  • Trinidad and Tobago
  • Tunisia
  • Turkey
  • Turkmenistan
  • Uganda
  • Ukraine
  • United Arab Emirates
  • United Kingdom
  • Uruguay
  • USA
  • Uzbekistan
  • Venezuela
  • Vietnam
  • Zambia
  • About Us
  • Our CEO
  • Our Board
  • Quality, Process & Risk Management
  • Culture and Leadership
  • Diversity
  • WTS Global Academy
  • Career
  • Your Development
  • Corporate Tax
  • Customs
  • Global Mobility
  • Indirect Tax
  • International Corporate Tax
  • Mergers & Acquisitions (M&A)
  • Private Clients & Family Office Services
  • Real Estate Services
  • Tax Controversy
  • Tax Technology
  • Transfer Pricing & Valuation Services
  • Latest News
  • Brochures
  • Newsletters
  • Surveys & Studies
  • Subscription
  • COVID-19 Global updates
  • The Digital Tax Law Center (DTLC)
  • VAT Update for the Digital Economy
  • The European Tax Law Center (ETLC)
  • OECD Proposal for a new tax order - Comments
  • Tax Loss Carryback
  • Real Estate Guide
  • Press
  • Events & Webinars
  • Contact
  • Member Login
  • CI Guide
WTS worldwide
  • Albania
  • Angola
  • Argentina
  • Armenia
  • Australia
  • Austria
  • Bangladesh
  • Belarus
  • Belgium
  • Benin
  • Bolivia
  • Brazil
  • Bulgaria
  • Burkina Faso
  • Burundi
  • Cambodia
  • Cameroon
  • Canada
  • Chile
  • China
  • Colombia
  • Costa Rica
  • Croatia
  • Cyprus
  • Czech Republic
  • Denmark
  • Dominican Republic
  • Ecuador
  • Egypt
  • El Salvador
  • Estonia
  • Finland
  • France
  • Georgia
  • Germany
  • Ghana
  • Gibraltar
  • Greece
  • Guatemala
  • Guinea
  • Honduras
  • Hong Kong
  • Hungary
  • Iceland
  • India
  • Indonesia
  • Iran
  • Iraq
  • Ireland
  • Israel
  • Italy
  • Ivory Coast
  • Japan
  • Kazakhstan
  • Kenya
  • Korea
  • Kyrgyzstan
  • Laos
  • Latvia
  • Lithuania
  • Luxembourg
  • Macao
  • Macedonia
  • Madagascar
  • Malaysia
  • Mali
  • Malta
  • Mauritius
  • Mexico
  • Moldova
  • Mongolia
  • Montenegro
  • Morocco
  • Mozambique
  • Myanmar
  • Nepal
  • Netherlands
  • New Zealand
  • Nicaragua
  • Niger
  • Nigeria
  • Norway
  • Pakistan
  • Panama
  • Paraguay
  • Peru
  • Philippines
  • Poland
  • Portugal
  • Puerto Rico
  • Romania
  • Russia
  • Rwanda
  • Saudi Arabia
  • Senegal
  • Serbia
  • Singapore
  • Slovakia
  • Slovenia
  • South Africa
  • Spain
  • Sri Lanka
  • Sweden
  • Switzerland
  • Taiwan
  • Tanzania
  • Thailand
  • Togo
  • Trinidad and Tobago
  • Tunisia
  • Turkey
  • Turkmenistan
  • Uganda
  • Ukraine
  • United Arab Emirates
  • United Kingdom
  • Uruguay
  • USA
  • Uzbekistan
  • Venezuela
  • Vietnam
  • Zambia
  • WTS Global
    WTS Global

    Here you will find more information on our organization’s structure, experts and global reach.

    Read more
    About Us Our CEO Our Board Quality, Process & Risk Management
  • Culture & Career
    Culture & Career

    The WTS Global Academy - Bringing value to the whole

    Read more
    Culture and Leadership Diversity WTS Global Academy Career Your Development
  • Our Experts
    Our Experts

    With a representation in over 100 countries, our team offers local expertise on a global scale. Learn more about our experts.

    Read more
  • Our Services
    Our Services

    Through our global network firms we deliver practical and individualized solutions in all areas of tax. Learn more about our global services.

    Read more
    Corporate Tax Customs Global Mobility Indirect Tax International Corporate Tax
    Mergers & Acquisitions (M&A) Private Clients & Family Office Services Real Estate Services Tax Controversy Tax Technology
    Transfer Pricing & Valuation Services
  • News
    News

    Find here the latest tax news for our locations worldwide.

    Read more
    Latest News
  • Knowledge
    Knowledge

    Our quick overview with downloads: newsletters, publications, surveys. 

    Read more
    Brochures Newsletters Surveys & Studies Subscription COVID-19 Global updates
    The Digital Tax Law Center (DTLC) VAT Update for the Digital Economy The European Tax Law Center (ETLC) OECD Proposal for a new tax order - Comments Tax Loss Carryback
    Real Estate Guide
  • Locations
    Locations

    Our locations worldwide

    Read more
  • Search
Home Coronavirus: Dubai reveals Dhs1.5bn (approx. USD 408 million) stimulus package
15.03.2020

Coronavirus: Dubai reveals Dhs1.5bn (approx. USD 408 million) stimulus package

Dubai has unveiled an incentive package worth Dhs1.5b to support businesses in the Emirate to help counter the impact of the COVID-19 outbreak.

Key Facts
The economic stimulus package seeks to enhance liquidity in the market by reducing certain fees.
The 15 measures are proposed to be introduced with immediate effect and will be valid for the next three months.

Coronavirus: Dubai reveals Dhs1.5bn (approx. USD 408 million) stimulus package

 

Dubai has unveiled an incentive package worth Dhs1.5b to support businesses in the Emirate to help counter the impact of the COVID-19 outbreak. The economic stimulus package seeks to enhance liquidity in the market by reducing certain fees. The package amongst others, focuses on the commercial sector, retail, external trade, tourism and energy. The 15 measures are proposed to be introduced with immediate effect and will be valid for the next three months. The impact of these measures on the economic situation will be revisited at the end of three months. The highlights of the package are as below:

 

For citizens and residents:

  • 10% reduction in water and electricity bills for residential, commercial and industrial sector
  • 50% reduction in deposit amount for water and electricity connection

 

For local businesses:

  • 25% down payment for instalment-based payment of government fees for obtaining and renewing licences is cancelled. The move seeks will 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

 

For tourism sector:

  • Reduction of municipality fees imposed on sales at hotels from 7% to 3.5%.
  • Exemption from fees charged for postponement and cancellation of tourism and sports events scheduled in 2020.
  • Fees for the rating of hotels has been suspended
  • Freeze on fees charged for the sale of tickets, issuance of permits and other government fees related to entertainment and business events

 

For commercial and business sector:

  • Freeze on the 2.5% market fees levied on all facilities.
  • Refund of 20% on custom fees imposed on imported goods sold locally
  • Cancellation of the Dhs50,000 bank guarantee or cash required to undertake customs clearance
  • Bank guarantee or cash paid by existing customs clearance companies will be refunded
  • 90% reduction in fees on submitting customs documents of companies

 

For external trade:

  • Furnishing of banking instrument while submitting customs-related grievances is cancelled
  • Traditional wooden commercial vessels registered in the country will be exempted from mooring service fees for arrival and departure, as well as direct and indirect loading fees at Dubai Harbour and Hamriyah Port

 

Source of information: public (collated from local newspapers and websites)

 

Main Contact
Deepak Agarwal
Associate Partner
United Arab Emirates | WTS Dhruva Consultants
E-Mail
View Profile
Articles you might be interested in

Services supplied by datacenters should not qualify as services related to real property. For an overview of the recent developments relating to the vat qualification of services provided by data centers, please see our latest updates.

Services provided by datacenters are not services relating to real property
read more

On 29 October 2020, China’s State Administration of Taxation released the “2019 Advanced Pricing Arrangement Annual Report” (2019 APA report).

China publishes annual APA report
read more

Budget 2021 was delivered on 16 February 2021 and signals a shift from containing COVID-19 to restructuring and preparing Singapore’s economy and workforce for the post-pandemic world.

Singapore Budget 2021 - Emerging Stronger Together
read more

Get in contact

If you have any questions about WTS Global or our global services, please get in touch.
We will respond to you as soon as possible.

Contact
About Us
  • WTS Global
  • Our CEO
  • Our Board
  • Quality, Process & Risk Management
Culture & Career
  • Culture and Leadership
  • Diversity
  • Career
  • Your Development
Our Services
  • Corporate Tax
  • Customs
  • Global Mobility
  • Indirect Tax
  • International Corporate Tax
  • Mergers & Acquisitions (M&A)
  • Private Clients & Family Office Services
  • Real Estate Services
  • Tax Controversy
  • Tax Technology
  • Transfer Pricing & Valuation Services
News
  • COVID-19 Global updates
  • The European Tax Law Center (ETLC)
  • VAT Update for the Digital Economy
  • OECD Proposal for a new tax order - Comments
  • Study: Artificial Intelligence within taxation
  • Study: WTS Global Country TP Guide
Knowledge
  • Subscription
  • ITP Newsletter
  • Global Mobility Newsletter
  • VAT Newsletter
  • Transfer Pricing Newsletter
  • Private Clients & Family Office Services
  • Brochures
  • Tax Loss Carryback
Exclusive Cooperation With
© 2021 WTS Company Information Data Protection Disclaimer