Top

Dubai to implement new fees related to knowledge and innovation

Dubai to implement new fees related to knowledge and innovation

Dubai, Dubai Future Foundation, Innovation Dirham Fee, Knowledge Dirham Fee

Dubai on Monday announced plans to introduce two new fees related to government services and innovation, Arabian Business reported.

According to state news agency WAM, Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, new laws for the Knowledge Dirham Fee and the Innovation Dirham Fee.

The Knowledge Dirham Fee, set at AED10, will be levied on all transactions for government services in Dubai including federal government services whose revenues are allocated to the Public Treasury of the Government of Dubai.

WAM said the law aims to engage the community in supporting educational and cultural projects in Dubai.

The Innovation Dirham Fee aims to support innovation-related projects and involve the public in supporting innovation. As per the law, Dubai government entities will charge an Innovation Dirham Fee of AED10 for all transactions.

The revenues generated from the Fee will be allocated to the Dubai Future Foundation (DFF).

An Innovation Dirham Investment Committee will be established to explore opportunities for investing revenues from the Innovation Dirham, WAM added.

The Knowledge Dirham and Innovation Dirham will not be refunded when transactions are cancelled, WAM said, adding that the fees only apply to transactions of more than AED50.

Healthcare services provided by government entities are exempted from the Knowledge Dirham and Innovation Dirham, in addition to traffic fines for violations committed in Dubai which are collected in other emirates or other GCC countries, as well as fines for violations committed in other emirates or GCC countries collected by authorities in Dubai.

READ MORECommunity project Office of the Future is built through ‘a unique process’ says Ben Piper, Killa Design

Image: Tom Dulat/Getty Images

Most Popular