(Image source from: theyoungvision.com)

In a recent development Dubai Government has introduced a Innovation Dirham Fee or the Dh10 fee to support cultural and educational projects in Emirates. According to law No. 2 of 2018 issued by His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, A charge of 10 Dh will be imposed by Government bodies on each transaction they make. All of these revenues would go to Dubai Future Foundation (DFF) for boosting the Emirates Innovation environment.

Shaikh Mohammad also issued law No 1 for 2018 on the Knowledge Dirham, which annuls law No.4 of 2005, with money collected from knowledge fees. This innovation fee is aimed at helping the Government and supporting their efforts to engage community members in educational and cultural projects undertaken by the Emirate.

These is valid for transactions above Dh 50 only.

The report stated, “The Chairman of the DFF’s Board of Trustees will issue the necessary resolutions to implement the Law. The Law annuls Law No. 20 of 2015 on the Innovation Dirham Fee and its executive regulations and any other legislation that contradicts it. The Law will be effective from the date of its publication in the official gazette. 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, as well as fines for violations committed in other emirates collected by authorities in Dubai. Health-care 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 Gulf Cooperation Council (GCC) countries, as well as fines for violations committed in other emirates or GCC countries collected by authorities in Dubai.”

By Minu Manisha