MIRA waives off fines due from 570 parties

Maldives Inland Revenue Authority (MIRA), on Wednesday, announced the authority has waived fines due from 570 parties out of consideration of the coronavirus situation in the country.

Commissioner General of Taxation Fathuhullah Jameel appeared for a press briefing at the National Emergency Operations Center (NEOC) to provide an update on MIRA’s work on Wednesday afternoon.

Speaking at the press briefing, Fathuhulla announced MIRA had waived tax fines due from 570 parties, and was working on granting concessions to additional parties.

Fathuhulla said that MIRA will announce tax deadlines before offices are reopened once the lockdown is eased, and provided assurance that offices will be provided ample time to prepare and that deadlines will not fall on the first day offices reopen.

MIRA has introduced an installment plan and later extended the installment period. It has announced that customers will no longer need to submit post-dated cheques.

Maldives identified its first coronavirus case, in Kuredu resort, on March 7, and has been in a state of public health emergency since March 12.

While virus cases had initially been restricted to resorts and safaris, and later inbound travelers in quarantine facilities, the populous Maldivian capital Male’ City identified its first coronavirus case on April 15 – prompting a lockdown on the Greater Male’ Region.

Male’ City quickly became the epicenter of the coronavirus outbreak in Maldives, contributing to over 1,400 of the total 1,457 virus cases.

In light of the outbreak, MIRA has granted extensions on tax deadlines.

It projects the pandemic, and especially its impact on the tourism industry, will result in a 48 percent drop in the tax revenue for the year.