A digest of news and opinion from the Maldives.
Maldives Trade Union has requested to take revenue charges from goods imported into the country as a measure to remedy the financial condition of the government. This was stated as such in an announcement made by the Maldives Trade Union on 7th August 2020. The Trade Union has highlighted in its announcement, the economic downturns […]
Maldives Customs has announced that effective from August 1st 2020, there will be no import duty charged on goods imported for Fisheries Industry. This includes the packaging such as plastic bags; equipment such as fish finder and navigator; supplies such as spool; marine diesel engine and its parts; as well as fishing nets and fishing […]
In the Maldives from 1st of August 2020, cigarettes and bidi will be charged a specific duty of 3 Rufiyaa per stick and ad valorem rate of 25% on the price (FOB). It was also revealed that 3% of duty revenue from cigarettes and tobacco products will go to public health fund to carry out […]
Maldives Inland Revenue Authority (MIRA) stated that the authority has obtained MVR 2 million by freezing numerous bank accounts. This act was part was the efforts, executed to recover government assets. The quarterly report for the first quarter of 2020 published by MIRA states that the authority has acquired MVR 169.3 million from payments that […]
President Ibrahim Mohamed Solih has ratified the 17th Amendment Bill to the Export-Import Act of Maldives (Act No. 31/79), which was passed by the Parliament on 15th July at the 20th sitting of its second session. This sees an increase in the tax on all tobacco products imported to the country. The changes brought will […]
The Maldives government has announced that they had decided to decrease the land rent charged on islands leased for tourism purposes in the Maldives. Economic Minister Fayyaz Ismail, who is currently leading and administrating the Tourism Ministry had tweeted revealing the government’s decision to reduce land rent in a bid to progress tourism in the […]
Maldives Inland Revenue Authority (MIRA) has revealed a record of 83% decrease in the revenue which has been collected last June in comparison to June of last year, 2019. Statistics published by MIRA has revealed the authority recorded an income of USD 17.9 million as revenue in June 2020. The tax administrating body of MIRA […]
The President’s Office is now accepting applications for vacant seats on the Maldives Inland Revenue Authority (MIRA). Applications for the position have been opened with the resignation of one member and the expiry of three other members’ terms. Interested candidates may download the application form from the Presidency website, www.presidencymaldives.gov.mv. The President’s Office will accept […]
The Parliament has approved to decrease the duties on tobacco items imported to two regional ports of the country. The duties on tobacco items will be reduced by 50 per cent if imported to the regional ports in Kulhudhuffushi and Addu City. Amendments by Gan MP Mohamed Wisaam was assessed by The Parliament’s Whole House […]