To facilitate the procedures for the installment of public funds owed to those charged with it

Hamdan bin Mohammed issues a decision to amend some provisions of the financial system of the Government of Dubai

His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, issued a decision to amend some provisions of the financial system of the Government of Dubai.

The decision stipulates replacing the article related to the installment of public funds due, so that the government entity prepares a list of public funds owed to it, which are subject to installments, and submits it to the Finance Department for approval, provided that when preparing the list, the controls and standards approved by the Department in this regard are taken into account.

The decision authorized the official of the government entity, or his authorized representative, to approve the installment of the public funds specified in the list of public funds capable of instalments, based on a request submitted to it by the taxpayer or the debtor, or their legal representatives, provided that the request is decided upon in accordance with the rules and procedures that have been identified. in the revised article.

It is stipulated for the installment of public funds, according to the decision, that the public funds be due upon submitting the installment request, and that the value of the public funds required to be paid in installments shall not be less than the minimum set by the Finance Department. To pay the amounts owed by him in full in one go, as well as for the installment applicant to pay at least 25% of the public funds required to be paid in installments, while the decision authorized the official of the government agency or his authorized representative, based on a reasoned request submitted to him by the installment applicant, to amend this percentage Before accepting the installment request submitted by him.

It also stated that among the conditions for the installment of public funds, the installment period should not exceed five years, or the period for which the public funds were due, whichever is less, and that the installments be made by bank checks, or any other guarantees or insurances determined by the Department of Finance.

According to the decision, the installment applicant must submit, within 15 days from the date of being notified of the decision to approve the installment request, the guarantees or insurances determined by the Department of Finance, equivalent to the value of the amounts owed by him, and these guarantees and insurances remain in effect for the duration of the installment period until full payment.

In the event that the installment applicant fails to fulfill his obligations to pay the installments on their scheduled dates, the decision to approve the installment shall be considered null and void.

• «In the event that the installment applicant fails to implement his obligations on time, the decision to approve the installment shall be considered as if it had not occurred.

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