State receives MVR 100 million from duty-free shops

The state has received MVR 100 million in royalties from duty-free shops.

This is a 20 percent increase from last year as per statistics from Maldives Inland Revenue Authority (MIRA).

2024 saw MVR 84 million in duty-free royalties.

All duty-free shops in Maldives are required to register with the Economic Ministry and acquire a license. Every licensed duty-free shop is to register with MIRA as well for royalty purposes.

The royalties are determined via monthly revenue.

Most of the duty-free shops in Velana International Airport are managed by MACL.

Under the Act Governing Duty Free Areas in the Maldives, there is no fine to be incurred by not paying the royalty or for late royalty payments.

However, those who violate duty-free regulations will incur a fine between MVR 1,000 and MVR 10,000, with the Economic Ministry having the power to do so.