The Dubai government stimulus package has been announced for the next 3 months and is expected to include following initiatives related to Customs.

These customs related initiatives should be beneficial to importers and are expected to ease their cost of operations.

• 1
• AED 50,000 bank guarantee or cash requirement will be cancelled for customs clearance

• 2
• Refund of 20% on the customs fees on imported products sold in Dubai markets

• 3
• Reduction of the fees imposed on submitting customs documents by up to 90%

• 4
• Bank guarantees or cash paid by customs clearance companies will be refunded

• 5
• Fees imposed on submitting customs documents of companies by clearance agents will be reduced by 90%

• 6
• Cancellation of requirement for providing a banking instrument while submitting customs related grievances

• 7
• Exemption to Traditional wooden commercial vessels registered in the country from mooring service fees for arrival and departure, as well as direct and indirect loading fees at Dubai Harbour and Hamriyah Port.

The recent developments continue to show the UAE government’s commitment to further developing, growing and easing the way business is conducted in UAE.

Source:

https://gulfnews.com/uae/government/dubai-announces-dh15b-economic-stimulus-package-to-reduce-cost-of-doing-business-living-1.1584040217677

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