Maldives to stop using revenue stamps

People’s Majilis has passed legislature to cease the use of Revenue Stamps on official documents in the Maldives.

Maldives began using Revenue Stamps on official documents back in 1970, after a special law formulated for the purpose was passed.

The bill to abolish the aforesaid law was proposed by MP for Central Henveiru Constituency Ali Azim.

In his bill, Azim cited that this law was now too old and the cost of the stamps no longer justified the profits.

Moreover, he highlighted that businesses face many difficulties in having to buy revenue stamps – thus its abolishment would be beneficial to businesses as it makes administrative processes much easier and faster.

The decision to abolish the law regarding revenue stamps was passed with the vote of 44 parliamentarians out of the 45 who were present at today’s sitting.