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The state could boost its tax revenue by USD 120 million (MVR 1.8 billion) if companies earning income in US dollars were required to pay taxes in that currency, said Commissioner General of Taxation Hassan Zareer today.
In August, the government decided to amend the Pension Act, Income Tax Act, and Maldives Inland Revenue Authority (MIRA) Act to increase dollar-based revenue, with the Attorney General's Office currently working on the changes.
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