Payment has been made to extend the lease period of three resorts to 99 years under a recent amendment brought to the Tourism Act, according to the latest monthly revenue collection report of the Maldives Inland Revenue Authority (MIRA).
The 13th Amendment to the Tourism Act, which came into force on August 29, gave six months to extend the lease period of islands, lands and lagoons for resort development to 99 years by paying USD 5 million.
According to the MIRA report, the agency received USD 15 million in lease period extension fees last month. The report released by MIRA does not include details of the businesses that made the payments.
Adhadhu has submitted a Right to Information (RTI) request to the Tourism Ministry to find the information.
The former government also allowed the resorts to extend their leases to 99 years by paying USD 5 million within two years. But the recent amendment allows for a lump sum payment of USD 10 million to extend the lease after six months.
