Tue 30-10-2018 15:19 PM
ABU DHABI, 30th October, 2018 (WAM) — President His Highness Sheikh Khalifa bin Zayed Al Nahyan, has issued a Federal Decree-Law No. 15 of 2018 concerning the collection of revenues and public funds with the aim of accelerating the procedures for the claim, execution, settlement and collection of debt.
According to the provisions of Article 3 of the Decree-Law, income and public funds impacted by the Law include taxes, duties and wages in matters of state jurisdiction and the fines and fees paid to the state for the services it provides, as well as administrative fines and compensations awarded under the provisions of federal laws.
According to the same article, revenues also include those from state investments, amounts due in respect of sale, rent, ownership or use of public funds, the proceeds of investment certificates issued by the state, loans owed to the state, and any other funds listed by special laws in accordance with the provisions of this Decree or by a decision of the UAE Cabinet.
According to the Federal Decree-Law – which was published in the latest issue of the Official Gazette – the organisational body responsible for the collection of debt in accordance with the provisions of this Decree shall be determined by a decision from the Minister of Finance.
WAM/Rasha Abubaker/MOHD AAMIR