34 tax-evading companies; many repeat offenders
The list includes a total of 34 companies, including those that appear routinely or repeatedly on tax evasion lists.
By
Ahmed Mizyal
The Maldives Inland Revenue Authority (MIRA) has released a list of companies and individuals who have not paid various types of taxes.
The list gazetted by MIRA on Sunday includes those who have not paid TGST, GRT and GGST in amounts exceeding MVR 100,000 from October 2022 to March 2023.
The list released on Sunday includes companies that have not paid their taxes despite being given the opportunity to do so by October 18.
The list includes a total of 34 companies, including those that appear routinely or repeatedly on tax evasion lists.
The companies are:
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1-
AAA Trading
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2-
Amagi Maldives
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3-
Atollo Construction
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4-
Azzrova Maldives
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5-
Brennia Maldives
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6-
Brew & Feast Maldives
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7-
Elegant stream
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8-
Flexinc
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9-
Free Guys Holdings
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10-
IDR construction
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11-
Ibrahim Majid (Jaya Group)
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12-
Ikebana Maldives
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13-
Jaah
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14-
Jailam Ahmed (The Corner Investments)
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15-
Just for Maakin
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16-
Keiretsu Maldives
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17-
Marinedo
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18-
Medhufushi Investment
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19-
MO Hotels and Resorts (owned by Reeko Moosa Manik)
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20-
Mohammed Shifau (Fahi Plaza)
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21-
NB Investments
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22-
Coast Contractors*
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23-
Onyx
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24-
Platinum Capital Holdings, which operates the Eriyadhoo Island Resort
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25-
Plumeria Hotels & Resorts
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26-
Shambala Holdings
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27-
Silica Company
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28-
South Enterprises
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29-
South Palm Maldives, which operates South Palm Resort
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30-
Swift Engineering
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31-
The Sub Company, which operates franchises such as Gloria Jeans and Chicking
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32-
Theluveliga Retreat
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33-
TrustEng Maldives
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34-
Wee Hour Investment
The Finance Ministry's budget for next year also noted that taxpayers' compliance with tax laws and regulations has declined with the relaxations given in connection with the pandemic.
According to the budget book, the principal amount of other taxes and non-tax payments due to MIRA till June this year has increased compared to the same period last year. The non-payment of TGST and resort land rent, which are the biggest revenue sources for the state, has increased significantly.
Details of tax and non-tax income not received by MIRA (as at June):
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Income Tax - MVR 536.8 million (MVR 260 million last year)
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TGST - MVR 972.9 million (Previous year MVR 566.1 million)
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GGST - MVR 1.6 billion (MVR 1.1 billion last year)
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Other taxes - MVR 920 million (MVR 885.9 million last year)
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Resorts land rent - MVR 3.4 billion (MVR 2.9 billion)
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Non-tax income - MVR 171.5 million (MVR 205.5 million)
Although the MIRA resumed its enforcement policy last year to recover outstanding taxes, the budget book notes that the measures need to be reviewed as the amount of outstanding taxes is increasing.
Accordingly, the Administrative Taxation Act has been amended to address the current difficulties in tax enforcement.
