Ministry of Finance confirm the deferred rent on tourist resorts will be subject to pay again on June 2021.
In a circular released on Sunday evening, the ministry notes that several businesses and individuals have faced unprecedented financial losses in light of the viral Covid-19 pandemic. It further identifies that the pandemic has resulted in affecting the country's economic drive.
The ministry further notes that the government was aiming on providing financial relief and assistance to businesses and individuals who have faced the challenges amid the economic regress.
According to the ministry's circular, rents from resorts for both third and fourth quarter of 2020 will be applicable to pay once again from 1 June 2021 - and the deferment will remain effective.
Moreover, the government has confirmed rents incurred for the period between June 2020 until December 2020 will be subject to pay again from June 2021 onward.
Furthermore, the ministry confirms that the resort lessee will not be incurred with additional fines or charges during the set period despite failure to settle the rent. Government of Maldives further notes that the charges or fines for late pays will only become subjected after the deferment period.
Government is deferring rents collected for trust funds of ministries except for Zakath Fund or for the ministries or other offices under said ministries.
