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Parliament slashes duty on goods imported by regional ports

Mariyam Malsa
15 July 2020, MVT 22:42
A photograph taken during the parliamentary sitting held in June. PHOTO/PARLIAMENT
Mariyam Malsa
15 July 2020, MVT 22:42

The parliament, on Wednesday, passed an amendment to the Import-Export Act, reducing duties charged on goods imported from the regional ports of Addu City and Kulhudhuffushi City by 50 percent.

The amendment was submitted by the parliamentary representative for Gan, Laamu Atoll Mohamed Visam.

The 50 percent cut will also be applied to goods imported via regional international airports across the country.

However, all goods must be stored in the same region as the point of entry in order for the reduction to remain applicable.

The aforementioned requirement was added to the amendment at the request of the parliamentary representative of Kulhudhuffushi North constituency, Yasir Abdul Latheef.

Energy drinks and tobacco products were also excluded from the amendment. during the committee stage. Instead, per litre duties on energy drinks were increased by MVR 60 while three percent of revenue from duties collected on tobacco products are to be donated to the public health fund.

According to suggestions by parliamentary representative for Male' City's Henveiru South constituency Hussain Shameem, import duties imposed on new vehicles, including cars, vans and jeeps, were limited to 100 percent while rates for second-hand vehicles were set at 200 percent.

Additional measures under the amendment include the reduction of duties charged for luxury cosmetics to five percent, slashing duties on perfume to ten percent and cutting duties on all types of batteries, excluding car batteries, to five percent.

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