Maldives government announces the deferment on rent from resorts will remain effective until June 2021.
In a circular from Ministry of Finance, state notes local businesses and individuals suffered massive losses due to Covid-19 pandemic.
Furthermore, state identifies the pandemic became resultant in slowing down the economic drive in Maldives.
Meanwhile, state has initiated provision of financial relief and assistance to local ventures and individuals through their Economic Recovery Plan.
As per the ministry’s circular, rents from resorts for both third and fourth quarter of 2020 will become applicable to settle from 1 June 2021.
Moreover, the deferment of rent for the period between June 2020 to December 2020 will remain effective.
Furthermore, the ministry assures lessees will not incur additional fines or charges for failure to pay during deferment.