Business owners ask for tax offsets on unpaid govt dues
Business owners raised concerns that payments for work carried out under the previous administration remain unsettled.
A businessman on Wednesday asked President Mohamed Muizzu to consider allowing government companies to offset payments owed to private businesses against taxes payable to the state.
The request was made during a meeting between President Muizzu and small and medium enterprises held at the Social Centre on Wednesday evening. Business owners raised concerns that payments for work carried out under the previous administration remain unsettled.
Addressing the President, one businessman said his company had not received payments due for completed work, while it continued to pay taxes and other charges to the Maldives Inland Revenue Authority (MIRA).
“This has resulted in tax penalties and financial strain, including the sale of assets,” he said. “My request is that state-owned enterprises be allowed, within the law, to deduct taxes payable to MIRA from amounts owed to private businesses.”
Another businessman said his company had not received MVR 1.3 million from the government for more than two years. Despite this, he said the business was required to meet its tax and fee obligations, which had affected operations.
He also criticised the state budget for providing subsidies to fishermen while outstanding payments to businesses remained unpaid.
“We are not asking for subsidies. Payment for work done within 15 days would be sufficient,” he said.
President Muizzu said last month that more than MVR 440 million in outstanding payments to companies had been settled since the change of administration. He said payments would continue until all verified claims were cleared.
