President Mohamed Nasheed has today visited a number of retail shops, wholesalers and supermarkets in Male’, to observe the implementation of the GST system, which was introduced in Maldives yesterday.
During his tour of shops in Male’, shop owners informed President Nasheed that certain difficulties were in fact evident in the beginning, and that MIRA has been taking necessary actions to resolve any problems. According to some shop owners, most businesses had been well prepared, for the implementation of the taxation system.
After his visit to various shops in Male’, the President briefed the media, noting that the implementation of GST system would be alleviated further as duties on several goods will be waived from January next year. He also pointed out that the lower rates of duties would in turn decrease the prices of goods. Speaking in this regard, the President said that a more feasible tax administration system would be established as legal formalities get completed.
President Nasheed also said that tax system was introduced in the Maldives to increase state income which would contribute to the growth and development of public services in the country, such as social security, public welfare, and education as well as the delivery of health cover, which is scheduled to be widened soon to include all Maldivians.
