The Department of Economic Development, or DED, in Dubai has reminded businesses and companies in the emirate that June 30, 2012 will be the last day to make use of the reductions on fines, granted under a decree by His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.

According to the decree, fines payable from January 1 to February 29, 2012 are to be reduced by 40 per cent. A 30 per cent reduction will be applicable to fines payable between March 1 to April 30, 2012, while fines payable between May 1 to June 29, 2012 will be reduced by 20 per cent.

The decree underlines Shaikh Mohammed’s continuous support to businesses in Dubai, and to find out the actual number of active establishments, which would help in the preparation of essential data and studies on economic activities and licences.

“The first months after the decree saw overwhelming response from the owners of commercial licenses and at least 3,050 fines being paid. Businesses are taking advantage of this opportunity as it facilitates fee payment and provides them additional funds,” DED finance division director Mohammad Al Shehhi said.