The Maldives Inland Revenue Authority (MIRA) will stop collecting annual fees for vehicles and vessels from December 31.
Finance Minister Ibrahim Ameer signed a circular on Monday, stating that the MIRA will stop collecting annual fees from December 31 in order to transfer the collection of annual fees to councils.
From January 1 next year, the annual fee for land and sea transport will be collected by the relevant council as determined by a system developed by the Transport Ministry. Fees can be deposited into the councils' accounts through the system when the bank accounts of the councils are linked with Bandeyri Pay.
The Finance Ministry said that from January 1 onwards, the fees would be deposited into the bank accounts of councils linked to Bandeyri Pay by December 31 as directed by the Local Government Authority (LGA). The ministry said that if no council bank accounts are linked to Bandeyri Pay by the specified date, the fee will be credited to the public bank account.
Councils have been asked to link their bank accounts to Bandeyri Pay before the end of this month if the accounts have not been linked until now.
The Finance Ministry is also working on transferring the vehicle annual fee revenue deposited in the public bank account to the relevant council accounts.
