Dubai's ruler has frozen taxes on some services and ordered others be slashed by 20%-30% in a bid to encourage investment in the Gulf emirate, which has been seriously hit by the global financial crisis.
Under the measure, announced by the official Wam news agency, Sheikh Mohammad bin Rashed al-Maktoum ordered that no fees be increased.
Taxes to be cut include fees for the issuance and renewal of trade and professional licences, licences for business promotions, property ownership certificates, and for converting buildings into hotels or serviced apartments and remodeling commercial buildings.
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