The Economic Council of the Government of the Maldives has decided not to reduce the rates of tourism land rent as proposed in the amendment bill to the Tourism Act. The decision was made following concerns that the reduced rates for tourism land rent would bring major economic repercussions to the country. As such, concerns …
Government withdraws decision to reduce resort rent Read More »
A bill has been submitted to the People’s Majlis to make it mandatory to purchase plastic bags at retail stores when shopping. According to the waste management bill submitted, MVR 2 must be charged from customers as a levy on plastic bags issued at points of sale within 30 days of the act coming into …
The second amendment to the Small and Medium Enterprises (SME) Act (Act no. 06/2013) was ratified on 10 May 2022. The amendment redefined the classification of the three categories of enterprises for the law. It also mandated the Registrar of Companies to re-categorise all enterprises into the newly classified categories: micro, small, and medium enterprises; …
STELCO to introduce and implement a new regulation to allow the exemption of paying fines for customers who face financial burden. Furthermore, a survey has been conducted on the work of the company, which identified certain areas which can be improved. The forms it currently uses will be improved to make it easier for customers …
Government has proposed several amendments to the Tourism Act. An amendment bill to achieve the changes is now in parliament. After preliminary debate, the bill is now in committee stage – waiting to be reviewed in detail. If these changes are accepted, and the bill is ultimately adopted, that would be the 11th Amendment to the …
