Parliament accepts bill to introduce jail terms for tax offences
Under existing legislation, tax-related offences do not carry prison terms. Individuals convicted of such offences are currently subject to house arrest.
Top Stories
-
Tax commissioner Zareer appointed as new finance minister
-
Fitch endorses recovery as BML stands strong at heart of economy
-
MP seeks committee inquiry Into WAMCO pension arrears
-
MIFCO raises skipjack tuna purchase price to MVR 18.50 per kilo
-
Essential commodity prices in Malé rise 6.35% over one year
Parliament on Wednesday accepted a government-proposed bill to amend the tax law to introduce prison sentences and increase fines for tax-related offences, including tax fraud.
The bill has been forwarded to a parliamentary committee for further review.
The proposed amendment to the Administrative Taxation Act was submitted by Mohamed Ismail, Deputy Leader of the PNC Parliamentary Group and Member of Parliament for Villimalé. The debate on the bill, which commenced on Tuesday, concluded during Wednesday’s sitting.
The bill was accepted with 60 votes in favour, including support from members of the opposition Maldivian Democratic Party (MDP).
The proposed amendment seeks to revise and clarify offences currently defined under the law, introduce new categories of offences, and apply stricter penalties. This includes provisions to impose custodial sentences and increase financial penalties for specific tax violations.
Under existing legislation, tax-related offences do not carry prison terms. Individuals convicted of such offences are currently subject to house arrest.
