A motion to have the revenue stamp system dissolved has been accepted at the People's Majlis and forwarded for review for all of parliament within a committee.

All 55 members in attendance during Wednesday's sitting of parliament had voted in favor of accepting the bill.

In submitting the bill on behalf of the state, MP for the Central-Henveiru constituency Ali Azim stated that the revenue stamp system in place in the Maldives at present had been introduced in 1970. MP Ali Azim noted that it was no longer feasible to run the revenue stamp system as in the past as the revenue collected was not worth the cost incurred in maintaining the system.

Azim also noted that the revenue earned from revenue stamps were from the different services being provided by state institutions across various sectors, and stated that it would improve convenience for those doing business in the Maldives if the revenue stamp system was dissolved.

The motion to have revenue stamps become obsolete comes under the Strategic Action Plan compiled by the incumbent administration in order to increase ease of doing business in the Maldives, as having to acquire revenue stamps are highly inconvenient for businesses when it can easily be alternated with a more modern and convenient system.