MIRA to introduce GST easements for businesses

Maldives Inland Revenue Authority (MIRA) will be easing some of the Goods and Service Tax levied on shops in the country due to the situation with COVID-19 in the Maldives that has seen most shops across the country close up.

The announcement was made by Chairperson of MIRA and Chief Financial Budget Executive of the Finance Ministry, Ahmed Saruvash Adam in a press conference today.

The capital of the country is in a state of lockdown and curfew after a surge in virus cases. The total figure for the country currently stands at 116. 91 of these cases have originated in the capital after a community spread was identified on April 15.

Saruvash responded to a question by a journalist today and stated that the deadline for the first quarter GST would expire on April 28. Changes regarding the tax will be announced later on, said Saruvash.

“MIRA will announce how to proceed tomorrow or the day after.” Said Saruvash who admitted that businesses in the country were hurting due to the lockdown.

“Easements will be introduced for everyone except those who are filing online. Procedures for those who are filing online will also be announced soon.” Said Saruvash.

Due to the economic impact of the virus, the government is already bracing for GST income to also be reduced substantially. The state earned MVR 637.67 million as GST last month, a reduction compared with last year.