Minister of Economic Development has formed a committee to review and potentially reform the existing tax system in the Maldives.
“I have created a committee comprising of government officials and private sector auditors including lawyers to identify issues arising in the implementation of the current tax laws and necessary amendments to the tax regime. Government is firm on creating a just and strong tax regime,” Minister Fayyaz said via a tweet on Thursday.
The establishment of the committee follows the Minister’s comments about the need to reform the tax system this past December.
The purpose of the reform, according to the Minister is to allow businesses to grow and distribute its benefits to the people.
Developing the tax system with the inclusion of income tax and reforming Maldives Inland Revenue Authority (MIRA) is also one of the pledges of the current administration.
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