Connect with us

News

President MBZ announces more relief measures to support low-income UAE citizens

Published

on

Spread the love

ABU DHABI (WAM) – In a welcome relief from the tightening economy squeeze for Emiratis, President Sheikh Mohamed bin Zayed Al Nahyan has directed the restructuring of the Social Welfare Progarmme of low-income citizens into an integrated programme worth AED28 billion instead of AED14 billion.

The move aimed at raising the annual social support allocation from AED2.7 billion to AED5 billion.

The programme, overseen by the Ministry of Community Development, covers various social aspects for national families with limited income, including the head of the family allowance, the wife allowance, and the children allowance. The programme also covers financial support for housing and other basic needs such as food, water, electricity and fuel, in addition to temporary financial support for unemployed job seeker, and unemployed citizens over the age of 45.

Introducing new allowances

The programme has introduced four new allowances: housing allowance, university education allowance, the allowance for unemployed citizens over the age of 45, and the allowance for the unemployed job seekers.

Housing allowance: The new programme includes a housing allowance between AED1,500 to AED2,500 per month until the family obtains government housing.

Applicants who live with their parents or any other family are entitled to 60% of these amounts. This allowance does not apply to those who obtain government housing subsidy or own a house registered in their names. Beneficiaries will stop receiving this allowance once acquiring government housing.

MbZ-relief

For illustrative purposes only

University education allowance: An allowance of AED3,200 per month will be allocated to outstanding high school students enrolled in university studies (according to the requirements of the Education and Human Resources Council). The allowance also includes students enrolled in diploma and university education programmes according to the allowances of children for each family (between AED2,400 and AED800) up to the age of 25.

Allowance to unemployed citizens over the age of 45: It is one of the new financial subsidies within the social welfare programme, where a fixed subsidy is granted starting from AED2000 to AED5000 per month according to the age of the unemployed citizens.

Allowance for unemployed job seekers: This allowance extends for a period of six months, and amounts to AED5000 per month for each beneficiary, regardless of his age.

Increasing allowances

The social welfare programme has been keen to increase the allowances allocated to all family members, including the three current allowances: the allowance for the head of the family, the one for the wife, and the one for children.

  • The allowance for the family head has been increased to start from AED5,000 per month and then increase at a rate of AED2,000 per month for every 10 years of work experience until it reaches AED13,000. Whereas the head of the family in the age group of 21-30 years receives an amount of AED5000 per month, and the allowance increases for the age group from 30-40 years to reach AED7000, and the age group from 40-50 years is AED9,000, and the age group from 50-60 years to reach AED11,000, and the age group of those over 60 years old, which amounts to AED13,000 per month.
  • The wife’s allowance has been raised to AED3,500, with the aim of raising the social support that low-income national families receive.
  • The social welfare programme includes increasing the children allowance to AED2,400 per month for the first child, AED1,600 per month for the second and third child, and AED800 for the fourth child or more, and it shall be disbursed up to the age of 21 years.

Inflation allowance

The programme includes three types of allowances: food, electricity and water, and fuel subsidies.

  • The government will bear 75% of food price inflation, as a commitment to provide the necessary assistance to Emirati families to enable them to meet their living requirements and provide them with a decent life.
  • Electricity and water subsidy worth 50% for electricity consumption less than 4,000 kilowatts, and monthly subsidy for water consumption less than 26,000 gallons.
  • The programme provides a monthly subsidy of 85% of the fuel price increase over AED2.1 per litre. The head of the family receives a monthly subsidy of 300 litres, while the working wife receives a subsidy of an additional 200 litres. Meanwhile, the head of the family receives a subsidy of 400 litres if the wife does not receive support.

Announcements

Small businesses in the UAE now have tax relief until 2029

Published

on

Spread the love

Small businesses in the UAE with annual revenues of up to Dh3 million will continue to be eligible for Small Business Relief under the corporate tax regime until the end of 2029.

The Ministry of Finance said on Friday that Ministerial Decision No. 131 extends the period during which eligible businesses can benefit from Small Business Relief to cover tax periods ending on or before December 31, 2029.

The relief was introduced to help reduce the corporate tax compliance burden for smaller businesses and start-ups that meet the eligibility requirements.

Dh3 million threshold remains unchanged

The existing annual revenue threshold of Dh3 million, set under Ministerial Decision No. 73 of 2023, will continue to apply.

The relief applies to tax periods beginning on or after June 1, 2023 and, following the latest amendment, will remain available for subsequent tax periods ending on or before December 31, 2029.

Eligible taxable persons with annual revenue of up to Dh3 million can claim Small Business Relief, subject to meeting the conditions and requirements outlined in the corporate tax legislation.

The relief enables qualifying businesses to benefit from simplified corporate tax compliance requirements.

More time for small businesses

The extension provides eligible small businesses and start-ups with additional tax periods to benefit from the relief while continuing to meet the Dh3 million revenue threshold.

The Ministry said the decision is part of its efforts to support smaller companies and entrepreneurs, strengthen the business environment, and encourage sustainable growth and expansion.

Continue Reading

News

UAE public holiday announced: 3-day weekend coming up on August 28

Published

on

Spread the love

Planning your next long weekend? The UAE has confirmed Friday, August 28, as a public holiday for employees in both the public and private sectors.

The holiday commemorates Prophet Muhammad’s (PBUH) birthday, an occasion included among the UAE’s official public holidays. As the date follows the Islamic calendar, the timing changes from year to year.

A three-day break for many residents

With the holiday falling on a Friday, employees who follow a Monday-to-Friday working week can enjoy three days off:

  • Friday, August 28: Public holiday
  • Saturday, August 29: Weekend
  • Sunday, August 30: Weekend

That means residents can make the most of the break with a short trip, a staycation or a relaxed weekend at home.

Another UAE holiday is coming

The next major public holiday on the UAE calendar will be Eid Al Etihad, with celebrations and the official holiday scheduled for December 2 and 3.

Continue Reading

News

What the UAE’s new vape excise price means for consumers and retailers

Published

on

Spread the love

The UAE Ministry of Finance has introduced a new rule that sets a minimum excise price for liquids used in electronic smoking devices.

Beginning September 1, vaping liquids will be subject to a minimum excise price of AED 1 per millilitre.

The ministry confirmed that the existing minimum excise prices for cigarettes, water pipe tobacco (shisha), and other tobacco products will remain unchanged.

According to the ministry, the decision aims to improve tax compliance, respond to developments in the tobacco and vaping industry, and create a more consistent pricing framework across tobacco and electronic smoking products.

The UAE will also continue applying its 100% excise tax on all tobacco products covered under the country’s excise tax regulations.

Continue Reading

Popular

Exit mobile version
https://headline.ae/