Villa Group fines make up for 13 percent of annual income, says Finance Ministry
24 ޖެނުއަރީ 2018 | ބުދަ 07:29Villa Shipping and Trading owes MVR 269.5m, which is 20 percent of average monthly State income
JP leader Qasim Ibrahim
The MVR 2.9 billion Villa Group owes to the state is 13.3 percent of this year’s predicted income, says Finance Ministry.
In a statement on Tuesday, the ministry detailed that Villa Shipping and Trading owes MVR 78.6 milliuon in Goods and Services Taxes and Green Taxes from March last year up to now, and another MVR 291.4 million from resort leases.
This amounts to a total of MVR 269.5 million, which is 20 percent of the average monthly state income.
It said that the Finance Ministry is concerned over large amounts of state fines going unpaid, which could potentially result in difficulties providing state services and running projects.
It added that GSTs and green taxes were paid by tourists and owed to the Maldivian people, and appealed tax payers to be diligent in making payments.
