Author: Mohamed Reehaan

The Maldives Inland Revenue Authority (MIRA) has recovered MVR 639 million in outstanding tax debt through strong enforcement actions during the last business quarter. According to the Q2 report released by MIRA, it had collected a total of MVR 639,315,685 through various enforcement actions. This include amounts recovered under: Dunning: MVR 514,822,606 Dues Clearance: MVR 91,874,086 Account Freezing Policy: MVR 20,549,377 MIRA Arrears: MVR 11,924,177 Reminder calls/emails: MVR 135,439 Legal Action: MVR 10,000 The inland revenue authority also issued final notices to 10,796 non-filers and 8,947 non-complaint payers. MIRA also granted installment plans to 162 taxpayers, who collectively owe MVR…

The Maldives Association of Travel Agents and Tour Operators (MATATO) has officially partnered with RX Global, the organizers of the World Travel Market (WTM), for the upcoming WTM London 2024. This partnership, MATATO said in a statement, solidified the association’s position as the only travel and tourism association in the Maldives to “secure such a significant collaboration” with the WTM. This is not the first instance of a MATATO partnership with WTM London, as their first collaboration dates back to 2016, when MATATO first made waves by entering into a similar agreement. “This renewal solidifies the association’s longstanding leadership in…

The Maldives Marketing and Public Relations Corporation (MMPRC/Visit Maldives) has announced the “#Maldivesmoments2024” global competition launched on Friday, September 27, 2024. The competition, taking place until October 12, will explore participants’ artistic talent and creativity in showcasing the Maldives’ beauty, vibrant culture, and unforgettable experiences to the world. Participants are invited to share their most stunning photos and videos of the Maldives along with a brief description behind their capture and post on Facebook, Instagram, TikTok, Twitter or LinkedIn using the hashtag #Maldivesmoments2024. The competition is open to the public, including both international visitors and Maldivian locals aged 18 and…

State Electric Company Limited (STELCO) has contracted Waste Management Corporation (WAMCO) to keep the utility provider’s premises clean. The parties signed the agreement on Thursday, September 26, 2024. STELCO Managing Director Hussain Fahmy signed the agreement on behalf of the utility provider, and WAMCO’s Managing Director Shaheed Ibrahim signed on behalf of the service provider. Under the agreement, WAMCO will maintain cleanliness of STELCO’s establishments in Male’, Hulhumale’, and Vilimale’. Besides this, WAMCO will clean STELCO’s housing towers in Hulhumale’ Phase II.

Soneva Fushi has once again been selected by The World’s 50 Best Hotels, ranking 8th; becoming the only Maldivian resort to make it to the top-50 list. The resort also landed the Lost Explorer Best Beach Hotel Award for the second consecutive year. “I am delighted that Soneva Fushi has been recognized once again by The World’s 50 Best Hotels as number 8 in the world, the ‘World’s Best Beach Resort’ for the second year in a row, and once again the only Maldives property in the top 50 list,” said Sonu Shivdasani, CEO and co-founder of Soneva. “At Soneva,…

The Bank of Maldives (BML) is celebrating 20 years of exclusive partnership with American Express. While the celebratory kick-off event was held in July, the bank announced a promotion for its American Express Credit cardholders on Monday, as part of the series of activities. Cardmembers can spend a minimum of MVR 3,000 to qualify for a lucky draw to win 20,000 BML rewards points, which can be used for flight, car or hotel bookings or to purchase gift cards from local and international merchants including Amazon, Apple, and Spotify. “We are proud to have introduced the first credit card in…

The State Bank of India (SBI) has subscribed the USD 50 million government treasury bill (T-bills) for one more year. Subscription of the T-bills, issued by the Ministry of Finance, was extended by one more year from the date of maturity of the previous subscription, which is this Thursday. Similarly, SBI had subscribed to a USD 50 million T-bills under the same mechanism earlier in May 2024, which too was on the request of the Maldives government much like the one on Thursday. “These subscriptions have been made at the special request of the Government of Maldives as emergency financial…

International bunkering services commences officially, for the first time ever, in the Maldives on Thursday, September 19, 2024. Bunkering is poised as a major economic industry for the Maldives, that will reportedly increase the state’s earnings by USD 400 million annually, and create tens of thousands of new job opportunities. The new initiative is a key vision of President Dr. Mohamed Muizzu as well. The bunkering services, at Ihavandhippolhu – the northern-most tip of the Maldives – was officially launched by upper-north MPs. The opening ceremony was attended by State Trading Organization (STO) Managing Director Shimad Ibrahim, Maldives Ports Limited…

The Maldives Marketing and Public Relations Corporation (MMPRC/Visit Maldives) has showcased the island nation’s tourism industry and its offerings in the French market at the IFTM Top Resa 2024. This year’s Top Resa was held from September 17 to 19 in Paris, France. MMPRC was joined by a total of 35 representatives from 21 companies from the Maldivian tourism sector. Activities conducted at IFTM Top Resa included engagements with travel trade partners and potential agents, which included scheduled meetings. Besides this, a raffle offering free holidays in the Maldives was sponsored by Brennia Kottefaru, Joy Island Maldives by The Cocoon…

The State Trading Organization (STO), on Monday revealed it is ready to launch the Maldives’ first-ever international bunkering services on September 19, 2024. STO in a statement confirmed it has already made all the preparations in association with key government agencies; necessary prerequisites prior the commencement of the service. Besides bunkering, the facility will cater to vessels with other services, and STO said they have already started receiving bookings for the service. STO added that following the service launch, it would seek options of expansion as well. Bunkering is primarily available in Sri Lanka and India in the Indian sub-continent.…