DUBAI, March 4 (Xinhua) -- Dubai announced Sunday not to raise government fees for three years in order "to attract more foreign investments and promote economic stability," Dubai daily Gulf news reported.
The announcement follows a decision by the United Arab Emirates (UAE) cabinet in Abu Dhabi, chaired by UAE Prime Minister Sheikh Mohammed Bin Rashid Al-Maktoum who is also the ruler of Dubai, from last week to freeze the level of government fees for three years.
The report quoted Sheikh Hamdan (the Dubai ruler's son) as saying that the fee cap was also meant to promote "social stability".
While there is no income tax levied by the seven UAE sheikhdoms, residents and entities have to pay various government fees such land transaction fees or a tourism fee for hotel bookings or a various fees paid by foreign expatriates such as fees for obtaining or renewing.
Over 80 percent of the 10.5 million inhabitants are expats from nearly all nations.
