Maldives Association of Travel Agents and Tour Operators MATATO has clarified that it does not oppose collecting tax in US dollars amid discussions on the proposed amendments to the GST Act.
MATAO said in a statement that its previous statement had been misinterpreted and wished to clarify its stance on collecting tax in USD. MATATO said that its focus is on ensuring that the implementation of these reforms aligns with the practical realities of the tourism sector.
It said that the collection of tax in USD for USD income earned is imperative and a change will boost the economy.
MATATO also said that it recognizes the importance of effective fiscal policies and the need for reforms that enhance revenue collection and address inefficiencies within the system.
It said that it believed the time is critical for this long-needed reform and that it will fully support the government's broader fiscal objectives.
MATATO emphasized that it supports President Dr. Mohamed Muizzu's forward-thinking vision and strategic approach to turning around the current economic situation in the Maldives.
It said that it supports the government's efforts to implement a comprehensive fiscal reform agenda aimed at reducing recurrent expenditure and introducing measures to save cost that ensures financial stability and sustainability of the country's economy.
