The Maldives Association of Travel Agents and Tour Operators (MATATO) has clarified its position on the proposed amendments to the Goods and Services Tax (GST) Act, stating it does not oppose the collection of taxes in US dollars (USD). The association emphasised that its primary concern is ensuring these reforms align with the practical realities of the tourism sector, asserting that collecting taxes in USD for income earned in that currency is both necessary and beneficial for the economy.
MATATO further highlighted the importance of fiscal reforms that enhance revenue collection and address inefficiencies within the current system. The association expressed strong support for the government’s fiscal objectives, stressing that this reform is essential for the nation’s financial stability and growth.
Additionally, MATATO pledged to work closely with the government to ensure that any changes to the GST Act are implemented in a manner that supports the overall economic well-being of the Maldives while safeguarding the interests of the tourism sector. The organisation is committed to continued cooperation with all stakeholders to achieve shared economic goals.
MATATO also voiced its support for President Dr. Mohamed Muizzu’s economic reform strategy, describing his vision as forward-thinking and essential for addressing the current economic challenges faced by the Maldives. The association welcomed the government’s efforts to introduce a comprehensive fiscal reform agenda aimed at reducing recurrent expenditure and implementing cost-saving measures to strengthen the sustainability of the Maldives’ economy.
MATATO reaffirmed its commitment to supporting the government’s goals for the advancement of the tourism industry and the overall national economy.
