Tax Arrears, Amex Card, Oil Bunkering

Thursday, August 25

The state is owed MVR15 billion (US$972 million) in unpaid taxes, rent and fines, according to the second quarter report of the Maldives Inland Revenue Authority. Unpaid land rent for resorts and tourism sales tax account for the bulk of the arrears.

Under its “name and shame” policy, MIRA revealed in May that 12 resorts owed a combined MVR665 million in unpaid land rent. It was reported earlier this month that action under the second stage of the policy has been deferred for the resorts to seek a negotiated settlement with the tourism ministry.

Thursday, August 25

Wednesday, August 24

The Maldives Airports Company Ltd obtained a US$25 million letter of credit from the Bank of Maldives to expedite the completion of the new passenger terminal at the Velana International Airport. The credit facility will reportedly be used to ensure timely payments for construction material following delays in paying contractors through the project’s foreign funding sources.

The structure of the new terminal was done earlier this year but the full US$356 million project is expected to be completed in 2023. Developed by the Saudi Binladin Group with financing from Middle Eastern development funds, the 78,000-square metre terminal can accommodate up to 7.5 million passengers annually, resolving space constraints faced by the existing terminal.

Wednesday, August 24

Tuesday, August 23

The state-owned Maldives Transport and Contracting Company was awarded projects to build a harbour in Meemu Maduvvari, develop coastal protection in Raa Ungoofaaru, and implement the second phase of coastal protection in Meemu Muli.

Tuesday, August 23

With effect on 1 September, submission of work permit medical report will be mandatory to pay work permit fees of employees through the Xpat online system, the economic development ministry announced.

Monday, August 22

American Express Debit Cards issued by the Bank of Maldives for domestic use will now be accepted worldwide, the national bank announced. The Amex card can be linked to U.S. dollar accounts for foreign purchases online and overseas with a daily default limit of US$3,000.

American Express Debit cardholders were invited to set a USD account as the card’s primary account via internet or mobile banking. Applications can be submitted online.

Monday, August 22

The first batch of students from the government Job Centre’s training and up-skilling programme completed their dive instructor courses.

More than 150 students are currently enrolled in government-funded dive master and dive instructor courses under the income support project, according to the economic development ministry.

Domestic airlines Manta Air invited applications for a sponsored cabin crew training programme.

Saturday, August 20

The State Trading Organisation aims to provide international oil bunkering services in Ihavandhippolhu for the first time in the Maldives before the end of the year. STO has reportedly been developing floating oil storage facilities in the northernmost atoll. More than 300 cargo ships a day pass through the busy lane in the eight degree channel near Ihavandhippolhu.

Saturday, August 20

Kuwait Airways, the national carrier of the Gulf state, announced plans to launch twice-weekly flights to the Maldives on 31 October 2022.

The direct flight from Kuwait to Malé will be operated using A320neo aircraft.