Man arrested with USD in remittance tax evasion scam

Authorities have arrested an individual suspected of involvement in a remittance tax evasion scam as he was attempting to travel out of Maldives with a large sum of US dollars.

The individual was arrested from Velana International Airport.

Maldives Inland Revenue Authority (MIRA) reports the individual had been attempting to travel out of Maldives with USD 69,650.

Employment Act prescribes a fine equal to the amount of money an individual attempted to smuggle out of the country for evasion of remittance tax.

MIRA reports the USD 69,650 on the individual has been confiscated by the State as fine and tax.

A remittance tax of three percent is taken from money transferred out of Maldives by expatriate workers.