GST easements for businesses introduced by MIRA

Maldives Inland Revenue Authority has announced it would ease Goods and Services Tax collections on shops across Maldives. The decision comes due to COVID-19 outbreak.

The announcement was made by Ahmed Saruvash Adam, the Chair Person and Chief Financial Budget Executive of Finance Ministry. According to Saruvash the first quarter GST would expire on April 28. But informed changes on tax dates would be later announced.

In the conference Saruvash said easements would be only introducted to everyone but would not apply to anyone whom file it via online. Saruvash mentioned that procedure for people whom do online payments would be introduced very soon.

As curfews and lockdown are being placed across Maldives. Many shops are facing delivery issues on getting deliveries sorted out leaving many business to meet the following demand of customers. Inspite of that the economic impact of the virus have already been notice and is bracing for reduction of GST income.

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