Income tax, pension and Customs duty to be collected in US Dollars

Cabinet is deciding to have companies which earn revenue via USD to pay their taxes, pension contributions and Customs duties in USD.

Featured Image

[File] Maldives Inland Revenue Authority -- Photo: Mihaaru

Ameera Osmanagic

2024-08-25 20:23:04

Cabinet of Ministers have decided to change the country's regulations to collect income tax, pension contributions and Customs' duties in US Dollars from businesses which earn revenue through foreign currency.

In a press conference held this evening at the President's Office, Attorney General Ahmed Usham revealed that amendments will be brought to the Pension Act, Income Tax Act as well as the MIRA Act in order to alleviate the national dollar shortage.

This article is in our Archive

Login to read for free! Register to create an account