Amendments to the tax law will be proposed by the government to put a stop to the large amounts in fines that are being imposed on small and medium businesses and local fisherman.
President Ibrahim Mohamed Solih made the revelation at the 'Jazeera Holhuashi' meeting which held at G. Dh. Thinadhoo on Friday night.
At the meeting centered around the fishing sector, local fishermen voiced their concern over the huge fines being charged by Maldives Inland Revenue Authority (MIRA).
Acknowledging their concern, President Solih said the issue was discussed at length ahead of the presidential election last year.
"We raised the issue of MIRA fining shops and citizens to the point of bankruptcy", said President.
President further stated that discussion are ongoing to amend the tax law to avoid such scenarios, which be presented to the parliament during the next term.
President Solih also said that it is doubtful that MIRA is following procedure in fining as it has come to light that MIRA has been making up new rules to fine citizens.
"MIRA is an independent institution, however if they are mandated to act under a law, they must abide by it", stated president.