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Salik (road toll) Salik (In Arabic: سالك meaning "clear and moving") is the name given to the electronic toll road system in Dubai, United Arab Emirates, which is based on RFID technology, automatically deducting a fee when a toll gate is passed under. The Salik toll was launched by Dubai's Dubai Roads and Transport Authority (RTA) on 1 ...
The current standard VAT rate in the country is 5%. [2][3] In January 2022, the UAE Ministry of Finance announced the implementation of a federal corporate tax starting June 2023. [4] The standard rate of corporate tax is 9%, some exempt businesses and those with net annual profits under AED375,000 (US$102,100) qualify for a rate of 0%, and ...
RTA was established in 2005 by Law No. 17 - 2005. [6] It was launched by the Vice President and Prime Minister of the UAE, and Emir of Dubai, Maktoum bin Rashid Al Maktoum with the mission of developing integrated, sustainable and world-class transportation systems for residents of Dubai.
The Department of Economic Development (DED) of the Emirate of Dubai is a government body entrusted to set and drive Dubai's economic agenda within the broader governance systems of the United Arab Emirates. The DED and its agencies develop economic plans and policies, identify and support strategic sectors, and provide services to domestic and ...
A significant part of the department is located in the Bank's Dubai office, since the banking industry in the UAE is largely concentrated in this city. The scope of its regulatory mandate includes local banks, foreign banks operating in the UAE as well as finance companies, exchange houses, payment service providers (PSP) and non-banking ...
The United Arab Emirates (UAE) once largely known for its oil exports today has a diverse and highly developed economy. According to the UAE Economic Report 2009 released by the UAE Ministry of Economy in May 2010 the non-oil sector contributed 71.6 per cent to the UAE’s GDP, compared to 66.5 per cent in 2008, underscoring the success of the nation's economic diversification initiatives.
Website. Official Website (in English) The Nol (Arabic: نول, lit: fare) Card (stylized as nol) is an electronic ticketing card developed by Hong Kong–based company Octopus Cards Limited [1] that was released for all modes of public transport services in Dubai in August 2009. A Nol Card is a credit-card-sized stored-value contactless ...
The Dubai Multi Commodities Centre (DMCC) is a commodities exchange and free-trade zone in the United Arab Emirates. It is located in the Jumeirah Lake Towers district of Dubai . The DMCC was created in 2002 and deals in four main sectors: precious commodities (e.g., gold, diamonds); energy; steel and metals and agricultural commodities (e.g ...