Business & Tourism

New tax introduced on local tourism

Tourists staying in guesthouses in the Maldives will be charged a tax of US$3 for each day of stay effective October 1.

Government authorised to lease islands without bidding

The ruling party-controlled parliament voted through today controversial changes to the tourism law that authorises the government to lease islands for resort development without a competitive bidding process.

State broadcaster to provide cable TV service

The Maldives Broadcasting Commission has granted a license for the state broadcaster to provide cable television services across the Maldives.

Protesting islanders pay electricity bills

Residents of central Kaafu Atoll who protested a recent hike in electricity prices have resolved to pay their bills, as the government continues to drag its heels on a promise to revise tariff rates.

Majlis fast-tracks bill to lease islands without bidding

Government revenue increases in first half of 2016

The Maldives Inland Revenue Authority collected MVR6.5 billion (US$421 million) in the first five months of 2016, an increase of 13 percent compared to the same period last year.

Maldives leads push for first-ever precautionary controls on tuna fishery

The Indian Ocean Tuna Commission, a regional fisheries management body, adopted last week a Maldives-led proposal to set harvest control rules on the skipjack fishery.

Yameen accused of ‘sullying GMR’s reputation’

Yameen had claimed that GMR only paid MVR16 million to the government a year whilst MACL generated MVR1 billion in the first year after taking over management of the Ibrahim Nasir International Airport in December 2012.

AirAsia opens first travel and service centre in Maldives

Malaysian low-cost airline AirAsia launched Sunday its first travel and service centre in the Maldives. “With its central location in Malé, it is an added convenience for guests who are not able to book their AirAsia flights online,” said AirAsia CEO Aireen Omar.

Saudi Binladin Group awarded Maldives airport terminal project

A massive project to construct a new passenger terminal at the Ibrahim Nasir International Airport has been awarded to the Saudi Binladin Group for an undisclosed amount.

Champa Brothers issued banking license

The Champa Brothers, pioneers in Maldives tourism, are teaming up with Sri Lanka’s Commercial Bank of Ceylon to open a bank in the Maldives.

Businesses’ right to challenge tax bills at courts restricted

Businesses that do not contest tax bills issued by the tax authority within a 30-day appeal period cannot challenge the claim at the courts at a later stage, even if the bill is incorrect, the high court has ruled.

Tax authority reports fall in revenues for April

Tax receipts fell 19.9 percent below forecasts in April, the Maldives Inland Revenue Authority has said. Some MVR887.3million (US$57.5million) was collected last month.

Ooredoo introduces fixed broadband internet service

Ooredoo became the third telecoms provider to introduce fixed broadband internet services in the Maldives on Thursday, boasting speeds of up to 1Gbps.

World Bank is ‘jealous’ of Maldives progress, says ruling party MP

A ruling party lawmaker has slammed a damning World Bank report on the state of the Maldivian economy as an act of jealousy, while ministers said the report was “proof that the government’s megaprojects are indeed happening,”

Maldives is no longer interested in expanding tourism, says president

The Maldivian government is no longer interested in expanding its luxury tourism sector because of the large number of islands and lagoons leased out in a recent corruption scandal, President Abdulla Yameen has said.

Maldives economy slowed to 1.9% in 2015

The Maldivian economy slowed to just 1.9 percent growth in 2015, knocked by a slowdown in tourism arrivals and a number of booking cancellations following a state of emergency in November, the World Bank has said.

EU denies claim it revoked duty-free status for Maldives fish on gay rights grounds

President Abdulla Yameen’s claim that the European Union had revoked duty-free status for Maldives tuna over the country’s failure to implement freedom of religion and homosexual rights is “inaccurate,” a European Union official has said.

BML moves dollar sales to bazaar branch

The Bank of Maldives has moved its US dollar sales to its bazaar branch in a bid to speed up services for Maldivians requiring foreign exchange for overseas travel.

Ooredoo Maldives introduces mobile bill pay service

Ooredoo Maldives signed an agreement today with State Electric Company (STELCO) to enable customers to pay electricity bills via mobile service.