Page 4 - Al Tijarah - December 2020
P. 4

Under the guidance of Crown Prince & Deputy Ruler...

             Sharjah adopts new stimulus package to promote

       49                            continued development

         Under  the generous guidance of His
         Highness Sheikh Dr. Sultan bin Mohammed
         Al-Qasimi,  member of  the Supreme
         Council of the  Ruler of Sharjah,  His
         Highness Sheikh Sultan  bin  Mohammed
         bin Sultan Al-Qasimi,  Crown Prince of
         Sharjah and  Chairman of  the Executive
         Council of Sharjah, adopted the  second
         package of incentives of the Government
         of Sharjah to support government, private,
         business  and individual entities, based
         on  the Council's  keenness to  promote
         continuity of development in various fields
         and  mitigate the  economic  and  social
         impacts of the ongoing corona pandemic,   -  Elimination of  fines for  additional   nationals from (4%) to (2%) of the sale
         with a value of AED 512 million, while the   electricity loads in economic, commercial   value.
         value of the catalysts in the first package   and industrial entities.
         was estimated at AED 481  million. The                               Planning and Survey Department
         catalysts in its second package were as   Municipalities of Sharjah   - Investment Land Leasing: Investors' rent
         follows:                          Reduction  of  the fees for  certifying   exemption until  the end  of  31  March
                                           residential leases from (4%) to (2%) until   2021.
         Sharjah Electricity,  Water and Gas   31 March 2021.                 - Rental of motorcycle activity sites:
         Authority                                                            investors are exempt from the rental
                                           Economic Development Department    value until the end of 31 March 2021.
         -  Installment of  electricity, water and   - Continuation of the exemption decision   - Rental of shops: Tenants granted 25%
         natural  gas delivery fees for  owners of   to renew the licenses  of economic   exempt from  the rental value until  the
         economic, commercial  and industrial   establishments with the value of a three-  end of 31 March 2021.
         facilities in several easy payments that   month annual fee.         - Rental of temporary sites: Tenants are
         may  exceed  two years  to help  alleviate   -  50%  discount  from  fines of  delay   25% exempt from rental value until the
         the financial burdens they face.  and inspection violations to economic   end of 31 March 2021.
         - Support for owners of various   establishments,  the  owners must adjust   - Extension of the repayment period by 24
         establishments by providing free technical   their conditions within three months of   months for floor secretion transactions.
         consultancy before starting the project   the date of the decision.   - Facilitating payments to investors and
         to  design and  implement extensions of   - 50% discount when issuing a license for   tenants by dividing the value of the
         electricity, water and gas services to save   industrial enterprises in order to enhance   cheques returned to the end of the year.
         the cost of financial expenses.   the contribution of the industrial sector to
         - Reducing insurance fees  for electricity,   the GDP.               Private Education Authority:
         water  and  natural gas on  economic,   - Exemption of private nurseries from all   - Private nurseries:  Exemption  from  the
         commercial and  industrial entities is   government fees for one year.  renewal fee of the educational license for
         a  very  important  factor  in  alleviating                          94 nurseries for one year.
         the  financial burden on investors and   The  Real  Estate  Registration  - Private schools: Exemption from tuition
         owners of enterprises under the current   Department                 renewal fees for 115  schools for  one
         circumstances.                    Reduction  of buyer fees for  non-GCC   academic year.
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