Treating the nation's tax system like a lump of dough to be molded at will will ultimately harm the entire national economy and its citizens: MP Ameen
27 އޮކްޓޯބަރު 2026 | އަންގާރަ 18:28Member of Parliament Ameen Faisal has stated that sudden changes to the tax system demonstrate a lack of economic planning and could undermine investor confidence. He further expressed concern that the requirement to settle tax payments prior to filing an appeal could result in significant financial losses for businesses.
Ameen Faisal, Member of Parliament for the Kanditheemu constituency. | rayyithunge majlis
Ameen Faisal, the Member of Parliament for the Kanditheemu constituency, has stated that treating the nation's tax system like a piece of dough to be molded at will would ultimately result in detrimental consequences for the entire national economy and its citizens.
During Tuesday's parliamentary session, MP Ameen debated the bill to ammend the Tax Administration Act, stating that sudden changes to the tax system demonstrate a complete lack of strategic planning by the current administration in stabilizing the economy.
MP Ameen stated that the government's inconsistent economic policies are eroding public confidence in the Maldives Inland Revenue Authority (MIRA). He warned that frequent, haphazard amendments to the tax system would undermine the trust of both citizens and investors. Furthermore, MP Ameen highlighted that such instability poses a significant threat to the nation's overall economic security.
Furthermore, MP Ameen expressed concern regarding the bill's requirement to pay 100 percent of the appealed amount for transactions specified under Sections 66 and 67 of the Income Tax Act (Law No. 25/2019), as well as for related-party transactions conducted under the Goods and Services Tax Act.
Honorable Speaker, considering the prolonged delays within our judicial system and the current state of affairs, we must evaluate the extent of the damages faced by businesses—whether small or large—that seek recourse through the tribunal. We need to consider the magnitude of the losses these parties endure by the time justice is finally served. This is a crucial matter that warrants our careful consideration during the committee stage.Ameen Faisal
Furthermore, highlighting that tax policy must be the most robust framework in any nation, MP Ameen stated that treating a country's tax system like a piece of dough to be reshaped abruptly or at will would ultimately damage the entire national economy. MP Ameen further noted that the consequences of such instability would be directly felt by the Maldivian citizens.
