Govt to amend Export Import Act

An amendment to the Export Import Act has been proposed to exempt import duties from some home appliances and materials needed for economic activities.

MP of Gan constituency Mohamed Visam proposed a bill to the parliament on behalf of the government, seeking approval for the amendment. The bill proposes to exempt import duties from materials needed for building boats and fishing vessels, construction materials, and materials needed for tailoring clothes.

Under the bill, it has been proposed to exempt import duty from home appliances such as washing machines, water filters, inverter air conditioners, and fire extinguishing appliances. It also exempts import duty from vehicles such as bicycles and motorcycles designed for disabled people, and spare parts for such vehicles.

Moreover, it proposes to charge duty on boats, and floating structures, to reduce duty on cars, jeeps, and vans to 100%, and to increased duty to 300% on second-hand vehicles.

An amendment has also been proposed to empower the authority to the president to exempt duties on vehicles imported to be used in other islands of the Maldives, based the island’s size and need for such vehicles.