Government seeks to increase import duty from 21 products

In a bid to increase national revenue, the Maldives government has proposed an amendment bill to the Export Import Act to increase import tax on 21 products.

The amendment has been reviewed by a select parliament committee. The committee report is tabled for debate and vote by the parliament in its sixth sitting of the first session scheduled for Monday, 14 April.

Through its amendment to the Export Import Act, the government is seeking to reverse a decision by former president Mohamed Nasheed’s Maldivian Democratic Party (MDP) government, which had cut down and exempted import duty from various products in 2011.

Proposed by Fuvahmulah-north MP Mohamed Rafeeq, the amendment seeks to re-impose an import tax of 5 percent on certain construction materials including iron bars, a tax of 15 percent on rugs and carpets and a tax of 15 percent on ready-made clothes. It also seeks to increase tax for pet food by 25 percent, sweets and chewing gums by 5 percent and sugar liqueur by 50 percent.