50 per cent discount on fines for non-renewal of business licences from next week announced by Sharjah government

The Sharjah Government announced on Tuesday a 50% decrease on penalty for non-renewal of company licences beginning next week. This followed a meeting presided over by Sheikh Abdullah bin Salem bin Sultan Al Qasimi, Deputy Ruler of Sharjah and vice-chairman of the Sharjah Executive Council (SEC), and attended by Sheikh Sultan bin Ahmed bin Sultan Al Qasimi, Deputy Ruler of Sharjah and vice-chairman of the Sharjah Executive Council (SEC).

As part of the emirate's intentions to help local firms, the SEC allowed a 50% discount on fines for non-renewal of licences if the owner modifies his/her status within four months, beginning July 10. The council authorised a memorandum of understanding between the Sharjah Economic Development Department (SEDD) and the Ministry of Industry and Advanced Technology (MoIAT) for collaboration in the fields of market research and product certification.

The goal of the memorandum is to safeguard the safety and quality of products registered in the country's markets by combining federal and local efforts to disseminate preventative and remedial actions for recalled or non-conforming items. It also aims to establish a centralised database at the state level, allowing dealers to readily report any non-conforming product.