Over MVR 4 bln in resort rent penalties waived by the gov't

The state has waived over MVR 4 billion in resort rent penalties.

According to the Tourism Ministry, the substantial sum was forgiven as part of the restructuring of resort rent penalties.

The waived penalties do not include any penalties other than rent penalties. The penalties were relieved for those premises that are not currently in operation, the ministry said, adding that their aim is to expedite the completion of incomplete resorts through this decision.

The most recent data from the Maldives Inland Revenue Authority (MIRA) indicates that outstanding resort rent penalties amount to over MVR 13.4 billion.