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FINANCIAL NEWS
Dubai’s Ruler reduces fines on companies by up to 40%
09 Jan 2012
(MENAFN) The Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE, announced a reduction on fines imposed on companies accounting to up to forty percent of the value of the total fines, reported WAM.
The announcement came through His Highness’ decree that entailed a reduction on the amount of fines on economy-related companies in accordance with the rates and periods specified in the table annexed with it.
It is worth mentioning that only fines issued before the 5th of January 2012 are subject to the cuts.
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