‘Billions’ owed to the state
The five-member commission is currently only investigating cases involving outstanding sums in excess of MVR 5 million.
06 Mar 2018, 9:00 AM
A commission set up by President Abdulla Yameen to recover lost or stolen money has identified where billions of rufiyaa is owed.
The State Asset Recovery Commission (SARC) said Tuesday it had identified more than MVR 3.6 billion (US$235 million) owed from islands leased for tourism development, while MVR 7.5 million is owed as unpaid goods and services tax (GST).
The five-member commission is currently only investigating cases involving outstanding sums in excess of MVR 5 million.
Legal proceedings are under way to recover this money from all the cases concerned, the commission said.
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