MIRA to have a Board Meeting on receiving all Payments in Rufiyaa

Maldives Inland Revenue Authority (MIRA) has said today that it is decided to hold a special board meeting tomorrow to come to a decision on accepting all the payments in Maldivian Rufiyaa.

While the Ministry of Finance had requested Maldives Inland Revenue Authority (MIRA) to accept all monetary receipts in the name of the government in Maldivian currency, Rufiyaa, from todayonwards, MIRA has said today that it cannot be done.

A senior official from MIRA said that that implementation of the Ministry decision immediately was not possible for various reasons. One reason pointed out by the official was clauses in agreements made by the government by various parties which stipulated that those parties could make payments in US Dollars or any acceptable foreign currency. The same official also noted that Tourism Goods and Services Act (TGST Act) too required taxes to be paid in US Dollars.

“We can only act as per the laws. We will continue to accept payments in US Dollars”, said the official.

Even before the Ministry directive to MIRA yesterday which required the latter to accept all payments in Rufiyaa, MIRA had stated that it could not be done without amending some of the existing statutory provisions and existing agreements between the state and various parties.

An official from MIRA said that they will act according to the decision made by the board after its meeting.