Afridi & Angell April 14, 2020 - United Arab Emirates New Measures Implemented by the UAE Authorities in Response to COVID-19 [14 April 2020] Below is a summary of key new measures and initiatives that have been implemented by various UAE authorities since 9 April 2020 and the time of this inBrief, 6:00 p.m. on Monday, 13 April 2020.
Commercial Activity On 13 April 2020 the Dubai Department of Economic Development issued a circular on the re-opening of some commercial activities and emphasised that these activities must continue to comply with preventive guidelines, including operating only between the hours of 8:00 a.m. and 8:00 p.m., adhering to sanitisation and social distancing measures, and obtaining movement permits. The commercial activities stated in this circular include meat trading, fruit and vegetable trading, fish trading, mills and nut trading, coffee and tea trading, and chocolate and sweets trading.
Free Zones Jebel Ali Free Zone (JAFZA) reinforces UAE Cabinet Resolution No. 24 of 2020 On 9 April 2020 JAFZA announced various measures reinforcing UAE Cabinet Resolution 24 of 2020. The measures include:
Dubai Financial Services Authority’s (DFSA) 2020 Reporting Requirements On 9 April 2020 the DFSA sent a letter to all Senior Executive Officers of authorised firms detailing various reporting requirements which may be eligible for extension. While the DFSA maintains an expectation that authorised firms exercise reasonable efforts to meet the existing deadlines set out in GEN 8.2.6, requests may be submitted on a case-by-case basis for extensions of this deadline. Authorised firms should access the DFSA e-Portal to submit the relevant forms for DFSA’s consideration. Requests can be made by authorised firms with financial year-ends from 31 December 2019 to 31 March 2020 (both days inclusive). The following reports may be considered for extension:
Economic Stimulus Ajman Crown Prince announces new package of economic incentives On 8 April 2020 the Ajman Crown Prince announced a second package of economic incentives. The package includes initiatives aimed at supporting the real estate sector including eliminating administrative fines for every violation of real estate registration renewals and postponement of payment for fines and penalties until the end of the current year for all businesses in the Emirate. It also includes initiatives aimed at supporting the Emirate’s foreign trade and customs as well as tourism sectors including the possibility of paying customs duties with easy payments within 90 days, extending the free period for storing containers from 10 to 20 days, reducing container insurance fees by 50 per cent for each container until 30 June 2020, the exemption for hotel and tourism establishments from registration fees until the end of the current year, eliminating hotel cancellations penalties, and postponing payment of hotel and tourism fines due at the end of the current year. ■
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