Ministry of Finance (MoF) has released a Circular on the deferment of lease rents paid to the Maldives government.

As per the Circular, payment of resort lease rent for 3rd and 4th quarters of this year has been deferred to 1 June 2021. The payment of other land lease rents due between June 2020 and December 2020 has been deferred to 1 June 2021 as well.

The deferred lease rents shall be paid back within a period of one year commencing from 1 June 2021 and during this deferment period, leaseholders are exempt from fines and interests.

The Ministry advises on bringing amendments to any Lease Agreements to accommodate the deferment of lease rents.

For the Circular: https://bit.ly/2ZmTNCU