His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, issued Council Resolution No. (53) of 2022 amending some provisions of Executive Council Resolution No. (5) of 2021 issuing the executive regulations of Law No. (1) of 2016 regarding the system of Dubai government finances.
According to the new text of Article (25), the government entity shall prepare a list of public funds owed to it and which are payable in installments, and submit it to the Finance Department for approval, provided that when preparing this list, the controls and standards approved by the Department in this regard shall be taken into consideration.
The decision authorized the official of the government entity or his authorized representative to approve the installment of public funds specified in the list of public funds subject to installments, based on a request submitted to it by the taxpayer or the debtor or their legal representatives, provided that this request is decided upon in accordance with the rules and procedures specified in the article. modified.
It also stated that among the conditions for the installment of public funds, the installment period shall not exceed (5) five years, or the period for which the public funds are due, whichever is less, and that the installment shall be made in accordance with bank checks or any other guarantees or insurances determined by the Department of Finance.
According to the new text of Article (25), the government entity shall prepare a list of public funds owed to it and which are payable in installments, and submit it to the Finance Department for approval, provided that when preparing this list, the controls and standards approved by the Department in this regard shall be taken into consideration.
The decision authorized the official of the government entity or his authorized representative to approve the installment of public funds specified in the list of public funds subject to installments, based on a request submitted to it by the taxpayer or the debtor or their legal representatives, provided that this request is decided upon in accordance with the rules and procedures specified in the article. modified.
It also stated that among the conditions for the installment of public funds, the installment period shall not exceed (5) five years, or the period for which the public funds are due, whichever is less, and that the installment shall be made in accordance with bank checks or any other guarantees or insurances determined by the Department of Finance.
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