Goods and Services Tax
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NewsEagles Hills will not pay acquisition cost or rent for 99 years
The Maldives government granted 500 hectares of land to UAE-based Eagle Hills for the Rasmalé project without acquisition fees or rent for 99 years. Minister Muththalib stated the move prioritizes long-term revenue from taxes and profit-sharing over one-time payments. The $12 billion project aims to attract one million tourists annually.
NewsBill passed to tax offshore booking platforms and tour operators
The Maldives Parliament passed a bill to tax offshore booking platforms and foreign tour operators starting October 1. The legislation applies GST to all goods and services provided in the country, regardless of the provider's physical location. This move aims to implement a "destination principle" for taxing inbound tourism products.
