Commission on State Assets Recovery discovers billions of rufiyaa is owed to the State
06 March 2018, Ref: 2018-88

In a statement released today, the Commission on State Assets Recovery has stated that their inquiries have led to the discovery of billions of rufiyaa that is owed to the State.

In their statement, the commission has highlighted that most of the missing assets were owed in taxes to the Maldives Inland Revenue Authority (MIRA).

In this regard the commission noted that a total of MVR 3,629,473,520.32 (Three billion, six hundred and twenty nine million, four hundred and seventy three thousand, five hundred and twenty rufiyaa, and thirty two laari) is owed to MIRA as resort lease payment; and MVR 7,522,267.81 (Seven million five hundred and twenty two thousand, two hundred and sixty seven rufiyaa and eighty one laari) is owed as goods and services tax (GST). In addition, the commission has highlighted that the judicial process was currently underway for these cases.

Commission on State Assets Recovery was established by the Presidential Decree 5/2017, to analyse efforts taken by the institutions to recover State assets highlighted in reports published by the Office of the Auditor General and the Anti-Corruption Commission.


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Republic of Maldives
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