Taxes to be introduced when People’s Majlis passes Taxation Law

Taxes to be introduced when People’s Majlis passes Taxation Law
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Miadhu News:
President Mohamed Nasheed has said that the government would start taking taxes as soon as the People’s Majlis passes the bills on taxation of trading profits.

The President told so at a press conference held at Colombo Hilton Hotel during his State Visit to Sri-Lanka, when asked by Miadhu News whether the government asked for assistance from Sri Lanka in training staff as Sri-Lanka is re-known for creating highly professional accountants, and because the Maldivian government lacks the required staff to oversee taxation, as the government has included 225 million from corporate tax as revenue in the 2009 budget.

Responding to the question, President Nasheed said that his State Visit would be of assistance to it, and that talks have been carried out with the Tax School and Civil School. He also said that detailed discussions have been held towards nurturing credible staff and assistances towards temporarily solving the problems. He said that therefore the government would be prepared to start levying taxes by the time the People’s Majlis passes the Law on Taxation. But he added that there would be difficulties and problematic issues in starting taxation. “It cannot be done perfectly when starting. Assistance can be obtained from experts.” President Nasheed said.

The Permanent Secretary for the Ministry of Finance, Ismail Shafeeu, has recently stated that taxation cannot be introduced this year as Inland Revenue lacks a qualified accountant who could undertake the task of taxation.

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