Author: Minivan News

GST from telecommunication services comes into effect

A six percent Goods and Services Tax (GST) on telecommunication services come into effect as of 12:00 a.m. today, May 1, 2014.

The eleventh amendment bill to the Goods and Services Tax Act, allowing the collection of a 6 percent taxation on telecommunication services, was published in the Government Gazette on March 25.

The tax applies to all communication services except for postal services provided by a postal service provider registered with the relevant Government authority or State institution, according to the Maldives Inland Revenue Authority (MIRA) website.

The tax for telephones will be included in the telephone bills, or added to the top-up vouchers.

The introduction of telecom GST was an initiative taken by the new government to increase revenue.

The State’s principal tax collector, MIRA estimates to gain MVR 110 million through Goods and Services Tax this year, reported local media Sun Online.

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Revenue collected by customs increased 17 percent in first quarter

Total revenue of the Maldives Customs Service (MCS) in the first quarter of 2014 increased 17 percent compared to the same period the previous year.

The MCS revealed yesterday that a total of MVR424.9 million worth of custom duties and other charges – fees and fines – was collected in the first quarter this year while MVR363.3 million was collected in the first quarter of 2013.

“The total CIF [cost, insurance and freight] value of goods imported has also increased by 11 percent during 2014Q1, when compared to 2013Q1,” MCS said.

“Total imports measured MVR7.2 billion during 2014Q1, while it was MVR6.5 billion during the same period last year.”

One-third of the MVR7.2 billion worth goods imported during the first quarter represented importation of petroleum products.

“The second most imported category of goods was food items, which accounted 20 percent of total imports, followed by machinery and electronics which shared 14 percent of total imports,” MCS noted.

“Exports, on the other hand, have declined by 25 percent  during 2014Q1, compared to 2013Q1. Total FOB value of goods sold abroad valued MVR 752.5 million in 2013Q1. However, this figure decreased to MVR 562.2 million in 2014Q1. Approximately 70 percent of goods imported during 2014Q1 were sourced from 5 countries and 64 percent of goods exported from Maldives were bought by 5 countries.”

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BML makes first quarter profit of MVR 199 million

The Bank of Maldives (BML) has published it’s first quarter results with an operating profit of MVR 199 million, an increase of 35% over the previous quarter.

Income grew by 10% and costs were controlled, the BML said.

The loan book grew by MVR 199 million in the quarter and loan book quality continued to strengthen, and deposits were up 17%, their press statement read.

Speaking on their success, CEO and Managing Director Andrew Healy stated, “we must not get carried away, however. Our Bank still has work to do to build a sustainable earnings base – much of our growth in profits over recent times has been due to loan recoveries – and we know that customer service standards are not yet at the level that we and our customers expect.”

Referring to the Bank’s IT modernisation programme, Healy continued “We are in the middle of a major IT and Training investment programme which will help transform how we deliver our services, including in the Atolls. Much of our technology was outdated and inflexible and is being replaced.”

“The changes we are bringing about will take time to bed down and there will inevitably be some disruption to services as we implement new systems over the rest of 2014. However, ultimately we will have a much better bank that is capable of meeting the highest international standards in every way”.

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Criminal Court releases 21 Anbaraa detainees

The Criminal Court has released 21 individuals arrested from a music festival on Anbaraa Island on alleged drug abuse.

Only 13 of the 79 initially detained are now in custody.

The Maldives Police Services had also released 44 individuals on Tuesday.

Detainees have accused the police of brutality during arrests including the use of batons and rubber bullets.

Opposition Maldivian Democratic Party (MDP) has said constitutional rights and human rights procedures were violated during the police raid.

However, the police have denied accusations claiming all detainees were informed of their constitutional rights, informed of the reason for their arrest and brought before a judge within 24 hours of arrest. Police also noted the raid was carried out under a court warrant.

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9.7% increase in tourists arrivals for first quarter of 2014

At the end of first quarter of 2014 tourist arrivals to the Maldives saw an increase of 9.7% compared with the same period of 2013, reaching a total of 321,561, reported the Ministry of Tourism on Tuesday.

Europe was the leading market generator taking account of 51.3% of all arrivals to the Maldives with a sum total of 321,561 tourists during the first quarter of the 2014, the report stated.

Asia and the Pacific recorded an impressive growth rate of 24.4% at the end of first quarter of 2014 bringing in additional 26,606 tourists to reach a total of 135,839. This region accounted for 42.2% of arrivals to the Maldives at the end of first quarter of 2014.

According to the Ministry, the Chinese market was increased by 24% with an additional 16,960 tourists compared with the same period of 2013.

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NGO Kickstart completes free TechTalk lectures

Local NGO Kickstart completed it’s free TechTalk lectures at Madhu College, Malé on Monday.

The TechTalks are free monthly events organised to share knowledge about important concepts in computer science and the latest developments in software development.

Previously, Kickstart organised the Maldive’s first 24 hour Hackathon, an event that brought together web developers from the local community to create new software or applications. The Hackathon aimed to inspire participants to develop products that could have a high social impact, or ‘kickstart’ a viable business.

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Commonwealth’s future “lies in celebration of diversity”: former President Gayoom

The future of the Commonwealth lies in the celebration of the diversity that exists within the organisation, former President Maumoon Abdul Gayoom said last night at an event held in Colombo, Sri Lanka, by the Commonwealth Chair-in-Office and President of Sri Lanka Mr. Mahinda Rajapaksa.

President Gayoom was the chief guest at the event organised to celebrate the cultural diversity of the Commonwealth.

Foreign Minister Dunya Maumoon – daughter of the former president – also attended the event whilst in Colombo on an official visit, during which she paid a courtesy call on the Sri Lankan president.

The Maldives joined the Commonwealth under President Gayoom’s leadership in 1982.

“In his speech, President Gayoom said that the diversity within the Commonwealth makes the organisation one of the strongest international bodies in the world today. The former President, also highlighted the importance of mutual respect, tolerance, and understanding between the countries of the Commonwealth, in order to foster peace and create an environment conducive for development to happen. The Commonwealth brings together, to the same table, countries of different cultures, development levels and political ideologies, as equals. This, President Gayoom, said, must be celebrated and respected,” the Foreign Ministry said in a statement today.

Former President Gayoom’s remarks were echoed in a message to President Rajapaksa by President Abdulla Yameen today, in which he said that the diversity of the Commonwealth was a source of strength.

“The President expressed his hope that the common beliefs shared by the Commonwealth countries will guide us towards finding mutually beneficial solutions to the global problems facing the world today,” the Foreign Ministry said.

“The President further conveyed his appreciation to the Sri Lankan Government, for hosting a special event in its capacity as Chair-in-Office of the Commonwealth to celebrate the cultural diversity of the organization, in which former President of Maldives, His Excellency Maumoon Abdul Gayoom participated as the Chief Guest.”

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Free medical camp held in Kaafu Guraidhoo

A free medical camp organised by the Maldivian Medical Association as part of the Doctors Day 2014 activities was held in Kaafu Guraidhoo yesterday (April 26).

The medical association noted in a press statement today that the state-run ‘Home for People with Special Needs (HPSN)’ is located in Guraidhoo.

The one-day health camp included various medical specialist outpatient clinics, the association noted, including specialities ranging from internal medicine, surgery, paediatrics,obstetrics and gynaecology, psychiatry and dermatology.

“The camp is a collaborative effort between the following different stakeholders, namely Maldives Medical Association, Public and Private Medical services, health-related NGOs, Ministry of Health and Gender, Home for People with Special Needs, Guraidhoo Health Centre, Guraidhoo Island Council and Island Office, Rihiveli Resort and private sponsors,” the association noted in its statement.

“It is planned to conduct regular free health camps in K. Guraidhoo hereafter. The camp is a voluntary effort on the part of doctors, organised through the Maldivian Medical Association. [Saturday’s] camps volunteers [were] Dr Abdullah Afeef, Dr Hykal Mohamed, Dr Ubaid Abdullah, Dr Jumailath Begum, Dr Arif Mohamed and Dr Shahid Ali Mohamed.”

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Amendments approved to Land Act

Parliament today approved amendments to the Land Act proposed by opposition Maldivian Democratic Party MP Nazim Rashad with unanimous consent of 43 MPs present and voting.

If ratified by the president, individuals will  have the option of securing ownership of 50 percent of land reclaimed for housing purposes.

The ownership must be granted in accordance with the land use plan formulated in line with the Decentralisation Act and government policies.

The bill was submitted by the MP for Baa Thulhaadhoo in November 2012. The island of Thulhadhoo was expanded with reclaimed land by the MDP government.

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