President Ibrahim Mohamed Solih on Thursday announced that income tax will be introduced in the Maldives next year.
The president made the statement while delivering his presidential address at the inaugural sitting of the parliament for 2019.
In his address, the President noted that the country's economy grew exponentially with the introduction of the tax system. The government now aims to increase the income of the country via net economic revenue.
"As a means to overhaul the tax system, the Government intends to submit to this esteemed Majlis during the course of this year, a bill on introducing a progressive income tax. Once the bill is passed the income tax regimen will be enforced next year. This will be another step towards a fully-functioning Jazeera economy.", said the President.
President Solih further said true development is measured by an increase in living standards. The government will ensure that the citizens are able to lead dignified lives with the income they make, and affirmed that the government is working with relevant authorities to establish a minimum wage.
The government is also working to ensure the benefits of the digital technology, through which the entire world is now connected, reach as many citizens as possible.
"The Government aims to expedite the utilization of digital communication services through the expansion of high-speed internet services to as many islands as possible", said the President.
The current communication system within government entities would become increasingly digitized, while hospitals, health canters and health posts are already integrated into a singular digital network. A similar transformation has been brought to the education system, added the president.
President Ibrahim Mohamed Solih delivering his inaugural address at the parliament
