Report: Maldives Resorts’ Tax Evasion Practices Persist as Government Introduces Tougher Measures
The Maldives government is ramping up efforts to tighten the noose on tax evasion within its lucrative tourism sector. As Parliament reviews new bills proposing significant tax hikes, attention is turning to how some resorts are dodging their fiscal responsibilities through cunning loopholes, and how the Maldives Inland Revenue Authority (MIRA) plans to tackle this rampant issue.
Climate Change: Challenges and Policy Priorities for the Maldives
The Maldives faces a pressing dual challenge: managing economic growth while addressing the increasing threats posed by climate change. According to the latest Maldives Development Update by the World Bank, released this month, the country is grappling with the intertwined impacts of climate change and development, which could have significant long-term consequences for its economy and environment.
Three Days Left to Vote for Maldives in World Travel Awards 2024
With just three days remaining until voting closes for the 2024 World Travel Awards (WTA), the Maldives is urging travellers, tourism professionals, and the wider global community to show their support by casting their votes. The Maldives has been nominated in six prestigious categories, including the coveted title of World's Leading Destination 2024.
In...
Illegal Business Activities Top Reports Submitted to Immigration Watch Platform
Maldives Immigration has received over 800 reports of unlawful activities involving expatriate workers through its recently launched online platform, Immigration Watch. The platform, which allows the public to report such activities anonymously, was launched on July 17, 2024.
Between the platform's launch and October 15, 840 reports were submitted. Of these, Immigration has attended...
EOI Opens for Upscale Hotel Projects in Hulhumale’ Phase II Tourism Zone
Developers are being invited to express their interest in constructing and operating three upscale hotels at Urban Isle, located in the Integrated Tourism Zone of Hulhumale' Phase II. The project, designed to cater to the Maldives' expanding tourism sector, offers an opportunity for contractors to participate in a prime development initiative.
The proposed hotels...
DATA Forum 2024 Brings New Insights to Maldives Travel and Tourism Sector
The Destination Advancement Through Analytics (DATA) Forum 2024 was successfully held for the first time in the Maldives on 16th October 2024. Jointly organised by the Maldives Marketing and Public Relations Corporation (MMPRC/Visit Maldives) and E-Tourism Frontiers, the forum aimed to advance data and intelligence within the travel industry. It brought together leading figures from the global...
Bank of Maldives Appoints First Maldivian CEO
Bank of Maldives (BML) has named Mohamed Shareef as its new Chief Executive Officer, effective 17th October 2024. His appointment marks a notable moment in the Bank's history, as he becomes the first Maldivian to assume the position of CEO.
With over 25 years of experience in the financial sector, including more than seven...
BUCG Secures Contract to Reconstruct Taxiway Charlie at Velana International Airport
Beijing Urban Construction Group (BUCG) has been awarded the contract to reconstruct Taxiway Charlie, a crucial component of the Velana International Airport (VIA) Expansion and Economic Zone Development Project. This project represents a significant advancement in improving the airport’s infrastructure and operational efficiency.
The signing ceremony was attended by Minister of Economic Development Mohamed...
STELCO Signs Historic Energy Deal with China’s TBEA Group
State Electric Company Limited (STELCO) has signed a Memorandum of Understanding (MoU) with China’s TBEA Group for a project that the state utility company describes as the largest energy initiative in Maldives' history. The agreement involves the establishment of a 150-megawatt dual-fuel power plant and a high-capacity transmission line connecting Male’, Vilimale’, Gulhifalhu, and Thilafushi.
Development Bank of Maldives to Drive Financing for Key Development Projects, Says Minister Saeed
Minister of Economic Development and Trade, Mohamed Saeed, has announced that the Development Bank of Maldives (DBM) will play a central role in facilitating financing for crucial development projects across the country. The minister shared these insights through a recent social media post, outlining the bank's future involvement with international financial institutions and investors.
Ooredoo Maldives Donates MVR 16 Million Worth of Medical Equipment to Air Ambulance Service
Ooredoo Maldives has reaffirmed its commitment to improving healthcare in the Maldives by donating specialised medical equipment worth MVR 16 million to enhance the capabilities of the national Air Ambulance service. This donation is part of Ooredoo’s Corporate Social Responsibility (CSR) programme, with healthcare being a central pillar.
The Air Ambulance service, which launched...
Gov’t Mandates Health and Safety Officers for Workplaces with Over 75 Employees
The government has announced a new regulation mandating that any workplace with more than 75 employees must appoint a dedicated health and safety officer. The regulation, developed under the recently enacted Workplace Safety and Health Act, aims to ensure a safer work environment across the country.
The Labour Relations Authority (LRA) will oversee the...
Double Your Chances to Win a Speedboat with Dhiraagu: Apply Before 31 October!
Dhiraagu is reminding customers to seize the opportunity to double their chances of winning a brand-new speedboat by enrolling before 31 October 2024. The promotion, part of Dhiraagu’s ongoing 36th-anniversary celebrations, was previously announced and offers both new and existing customers the chance to win a top-of-the-line Al Shaali Marine Magellan 32 boat, equipped with two Yamaha...
Agriculture Minister Announces Expansion of “Dhanduveri Nafaa Loan” and New Initiatives for Farmers
Minister of Agriculture and Animal Welfare, Dr. Aishath Rameela, has announced the expansion of the Dhanduveri Nafaa Loan Programme, which will now offer loans of up to USD 32,000 without collateral. This announcement was made during her special address for National Farmers' Day on October 15 and World Food Day on October 16.
In her speech,...
Foreign Relations Committee Approves Aishath Azeema as High Commissioner to India
The Foreign Relations Committee of the Parliament has approved Aishath Azeema’s appointment as the High Commissioner of Maldives to India. Her nomination, put forward by President Dr Mohamed Muizzu, follows the decision to replace the current High Commissioner, Ibrahim Shaheeb.
During the committee’s meeting, Parliamentarian Abdullah Rifau proposed conducting an interview with Azeema. However,...
Biometric Data of Over 4,000 Migrants Collected Under Operation Kurangi
The Ministry of Homeland Security and Technology has gathered biometric data from more than 4,000 expatriates as part of Operation Kurangi, an ongoing effort to regularise undocumented migrants in the Maldives. Launched in May, the operation has recorded data from 4,272 expatriates across 45 inhabited islands. The island of Kaafu Maafushi, known for its tourism-related businesses, has...
Maldives to Increase Import Duties on Tobacco and Ban Vaping
President Dr Mohamed Muizzu has announced an increase in import duties on cigarettes and tobacco products as part of efforts to reduce tobacco consumption. This decision is accompanied by measures aimed at curbing tobacco use and addressing public health concerns.
Starting in November, an amendment to the law will be introduced to adjust both...
Ooredoo Maldives Highlights Success of Leadership Development Program with Harvard University
Ooredoo Maldives has announced the continued success of its Leadership Development Program, run in collaboration with Harvard University, one of the world's leading academic institutions. Established in 2021, this program marks a significant step in corporate training within the Maldives, as Ooredoo remains the only company in the country offering such an opportunity.
The...
Review of Council Proposals for Uninhabited Island Acquisitions Begins
Minister of Cities, Local Government, and Public Works, Adam Shareef Umar, has announced that the review of proposals submitted by local councils to acquire uninhabited islands for economic activities has commenced. This initiative is part of the government’s plan to empower councils financially and support local development projects.
Earlier this year, President Dr. Mohamed...
Gov’t to Amend Taxation Act to Strengthen MIRA’s Authority
The government has announced plans to amend the Administrative Taxation Act, aiming to enhance the Maldives Inland Revenue Authority’s (MIRA) powers in collecting both tax and non-tax revenue. Attorney General Ahmed Usham confirmed that the amendment will be introduced later this year in an effort to streamline the recovery of outstanding state dues.
Currently,...
Maldives Expands Sea-to-Air Cargo Transshipment Services to Seven Airlines
Maldives Airports Company Limited (MACL) has announced that the number of airlines participating in its Sea-to-Air Cargo Transshipment services has increased to seven. This service, which allows goods to be transported to the Maldives by sea and then flown to global destinations, continues to gain popularity among international airlines.
The Sea-to-Air cargo initiative, introduced...
Gov’t Submits Bill to Parliament Seeking to Raise Tourism and Airport Taxes
The government has submitted three crucial bills to the Parliament aimed at increasing taxes in the tourism sector and airport-related fees, as part of efforts to restore financial sustainability and manage growing debt burdens.
One of the key proposals is to amend the Goods and Services Tax Act, which would see the Tourism Goods...
Japan Donates Surveillance Equipment to Boost Maritime Security in Maldives
The Government of Japan has donated pier surveillance equipment to the Maldives, valued at ¥347 million (approximately USD 2.5 million or MVR 38.5 million), as part of the “Project for Enhancement of Ability in Maritime Safety and Security in Maldives.” This initiative, in collaboration with the United Nations Office on Drugs and Crime (UNODC), aims to bolster...
MIRA Publicly Names 170 Tourism Sector Defaulters
The Maldives Inland Revenue Authority (MIRA) has revealed the names of 170 individuals within the tourism sector who have failed to meet their Tourism Goods and Services Tax (TGST) and green tax obligations for the second quarter of 2024. The announcement, made on Thursday, includes those with outstanding payments exceeding MVR 100,000 (USD 6,485).
LATEST ARTICLES
Report: Maldives Resorts’ Tax Evasion Practices Persist as Government Introduces Tougher Measures
The Maldives government is ramping up efforts to tighten the noose on tax evasion within its lucrative tourism sector. As Parliament reviews...
Climate Change: Challenges and Policy Priorities for the Maldives
The Maldives faces a pressing dual challenge: managing economic growth while addressing the increasing threats posed by climate change. According to the...
Three Days Left to Vote for Maldives in World Travel Awards 2024
With just three days remaining until voting closes for the 2024 World Travel Awards (WTA), the Maldives is urging travellers, tourism professionals,...
Illegal Business Activities Top Reports Submitted to Immigration Watch Platform
Maldives Immigration has received over 800 reports of unlawful activities involving expatriate workers through its recently launched online platform, Immigration Watch. The...
EOI Opens for Upscale Hotel Projects in Hulhumale’ Phase II Tourism Zone
Developers are being invited to express their interest in constructing and operating three upscale hotels at Urban Isle, located in the Integrated...
