50% Reduction on Commercial fines A good news for Businessmen in Dubai

With 2019 being declared as the Year of Tolerance by The President His Highness Sheikh Khalifa bin Zayed Al Nahyan, the Commercial Compliance & Consumer Protection (CCCP) sector at the Department of Economic Development (DED) has announced an automatic settlement facility for those traders qualified for 50 per cent reduction on commercial fines. This move also reflects DEDs efforts to enhance competitiveness and ease of business.

The fines issued for the first time violation in a calendar year will only be included under the 50% reduction scheme. Traders will receive a text message in case of a commercial violation with an automatic reduction of 50 per cent in the fine. Earlier, customers had to request for a settlement which led to further verification by the system for the traders eligibility for a reduction in fine.

Mohammed Ali Rashid Lootah, CEO of CCCP, said: "The Department of Economic Development is proud to launch initiatives based on the vision and directives of our leadership, especially when 2019 begins as the Year of Tolerance. We want to provide best quality services to as many businesses as possible in Dubai. The automatic fine settlement facility will contribute to enhancing happiness in Dubai and the emirate's position across global competitiveness indicators."

Aligned with the Year of Tolerance, CCCP seeks to foster the business environment in Dubai to heighten the city into a global financial capital that proves itself an ideal location for sustainable business growth. Promoting cultural dialogue and aiming towards an open society, the idea of tolerance is sought to be inculcated in the business sector as well.