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Hotels And Restaurants Are Among Those To Benefit From A New Government Relief Plan Worth AED 1.5 Billion

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Hotels And Restaurants Are Among Those To Benefit From A New Government Relief Plan Worth AED 1.5 Billion

Under the directive of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, Sheikh Hamdan Bin Mohammad Bin Rashid Al Maktoum, Dubai Crown Prince and Chairman of Dubai Executive Council announced on Saturday, July 11 that a new economic stimulus package of AED1.5 billion has been approved for the business sector.

The latest stimulus package brings the total incentive package to AED6.3 billion. Explained by Sheikh Hamdan himself, the newly introduced stimulus package is to;

  • Enhance the liquidity of companies
  • Support their business continuity
  • Reduce their cost
  • Facilitate procedures

Hotels and restos: These establishments will receive a refund for half of the hotel sales value fee of 7% for the period from July to December 2020, in addition to a refund of half of the tourism dirham fee, until the end of December

Construction: Authorities have directed quick financial payments to contractors, as well as the return of all financial guarantees for construction and building activities related to the commercial licenses deposited

This is to be replaced by another system that guarantees all the rights of the contracting parties.

Schools have been exempt from fines and private schools from the renewal fees of the commercial and educational licenses until the end of December, 2020

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