President Dr. Mohamed Muizzu says the state would prioritize the recovery of funds owed in different forms including taxes.
He made this statement during his address to the nation at the official ceremony marking the 59th Independence Day of the Maldives.
The President indicated that land rent amounting to USD 513 million, TGST amounting to USD 102 million, GST amounting to USD 3.3 billion, and USD 1 billion in corporate income tax are yet to be received by the state. He stated that if the state were to recover these amounts, much of the fiscal burden would be alleviated.
The President also pledged to further economic development avenues for citizens, announcing loans for women and seeking markets for local products and artisans.
In his address, President Dr. Mohamed Muizzu stressed that true independence hinges on the actualization of three aspects – economic sovereignty, self-determination, and defense security. He highlighted the administration’s efforts in achieving these aspects.
