Tax Hikes, SOE Profits, Aquaculture Farm
Business news from October 22 to 28: tourism industry groups oppose raising sales tax; government companies post MVR10 billion revenue; and new multi-species hatchery under development.
Business news from October 22 to 28: tourism industry groups oppose raising sales tax; government companies post MVR10 billion revenue; and new multi-species hatchery under development.
Business news from October 15 to 21: state fisheries company incurs MVR1 billion loss; MVR872 million owed as T-GST; and three-storey space for small business under development in Malé.
Business news from October 8 to 14: Ratings agency Fitch warns of ‘tightening global financial conditions’; hospitality trade show returns after two-year hiatus; and list of non-compliant taxpayers made public.
Business news from October 1 to 7: new runway operationalised at Velana International Airport; India extends US$100 million line of credit to expedite infrastructure projects; and Addu City airport development put up for tender.
Business news from September 24 to 30: US$136 million contract signed to develop northern airport; STO secures US$189 million loan for essential imports; and Chinese tourists expected to return in October.
Business news from September 17 to 23: minimum wage delayed for foreign workers; MTCC inaugurates Bodu Jarraafa dredger; and legal changes ensure collection of green tax.
Business news from September 10 to 16: MIRA to “name-and-shame” tax evaders; Al Shaali contracted to build speedboat ferries; and travel agency boss criticises delay in formulating rules for use of cryptocurrency.
Business news from September 3 to 9: finance minister assures ability to repay external debt; government proposes indefinitely delaying minimum wage for expatriates; and Manta Air launches flights to Hoarafushi airport.
Business news from August 27 to September 2: legal changes ensure green tax collection; the ‘Food and Hospitality Asia Maldives’ exhibition returns; and Maldives ranks third among countries with highest external debt to China.
Business news from August 20 to 26: state owed MVR15 billion in unpaid taxes and resort land rent; BML’s American Express Debit Card authorised for foreign purchases; and STO hopes to set up bunkering facilities in northernmost atoll by end of 2022.
Business news from August 13 to 19: STO reduced the price of petrol and diesel, HDC auctioned the sale of 74 plots from Hulhumalé, and Addu City Council leased land for guesthouses and hotels.