Ministry allows TGST payments to be made in MVR

The Ministry of Finance has approved the payment of Tourism Goods and Services Tax (TGST) in Maldivian Rufiyaa (MVR).

In a statement issued on Tuesday, the ministry noted that this was done to provide ease for businesses in the tourism sector facing hindrances and challenges due to the ongoing Covid-19 pandemic, in settling their TGST payments at Maldives Inland Revenue Authority (MIRA).

As such, TGST payments are to be accepted in the form of MVR for payments between April 1 and September 30, as stipulated under article 62 of the Goods and Services Tax Act.

The finance ministry has urged individuals to complete the TGST payments within the given period, at MIRA.