New Rules Introduced Regarding Dubai Government Accounting System
All the financial accounting functions are executed by the Government department through the approved system, application, and smart financial solution.
This Resolution is issued by Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council of Dubai. The government department can approve their accounting system and financial solution but the system will comply with law and regulations issued that are issued by the Department of Finance and pre-approved by the department of finance and smart Dubai. Dubai Government collection and public revenue management are regulated by The Executive Council Resolution No. (5) of 2021 on the Executive Regulation of Law No. (1) of 2016.
This system put down the process of the government payment and expenditure, including the payment of the suppliers and contractors. `The maximum payment date is 90 days from the date of handover or according to the contract.
It’s required to ensure the implementation of this resolution that the general director of the finance department will issue all the decisions and regulations.
If you have any queries and want to discuss this resolution in the accounting system in depth so feel free to contact us.