The Government of Dubai will impose two new fees – Knowledge and Innovation Dirham fees – on services provided by government authorities.
The UAE Vice President, Prime Minister and Ruler of Dubai, HH Sheikh Mohammed bin Rashid Al Maktoum, has issued laws on the Knowledge Dirham Fee and the Innovation Dirham Fee, a Wam news agency report said.
The Knowledge Dirham Fee of Dh10 will be levied on all transactions for government services in Dubai including federal government services whose revenues are allocated to the Public Treasury of the Government of Dubai. The law aims to engage the community in supporting educational and cultural projects in Dubai, as well as create simple and clear procedures for the collection of the Knowledge Dirham Fee.
The Innovation Dirham Fee aims to support innovation-related projects and involve the public in supporting innovation. As per the law, Dubai government entities will charge the Dh10 fee for all transactions. The revenues generated from the fee will be allocated to the Dubai Future Foundation (DFF).
The chairman of DFF’s Board of Trustees will set up the ‘Innovation Dirham Investment Committee’ to explore opportunities for investing revenues from the Innovation Dirham, and identifying innovative projects for support. Suggestions for investment and allocation will be presented to the board for approval. Rest
The application of knowledge is now recognized to be one of the key sources of growth in the global economy. The term Knowledge Economy (KE) has been coined to reflect this increased importance of knowledge. A knowledge economy is one where organizations and people acquire, create, disseminate, and use knowledge more effectively for greater economic and social development. – World Bank Knowledge for Development (K4D)