Finance Minister Ahmed Munavvar has said the world has recognized the success of Maldivian taxation system even though it has been only 6 years since the introduction of taxation in Maldives.
He said this while speaking at the opening ceremony of a workshop held to share experience of Korean Taxation Center with MIRA.
The minister said that, the world has recognized Maldivian efforts in tax reforms and that the Asian Development Bank is planning to publish a book, titled “Fast track tax reform, Lessons from Maldives”, later this year.
He further said that even though the OIECD countries have been taxing for a long time, they are still taking around 15 percent as tax. However within a short period the taxation percentage of Maldives is at 23. The minister said that President Yameen’s economic policy is not taking large taxes from one sector, but rather small amounts from multiple sectors.
Minister also said that the President’s goal is to double the gross national income. He said that large projects like development of Ibrahim Nasir International Airport, China-Maldives friendship bridge and Hulhumale’ Youth City has been started to achieve this goal.