The Maldives Inland Revenue Authority (MIRA) has recovered over Rf125 million (US$8.1 million) in outstanding debts owed to the state during its first year of operation.
Speaking at a ceremony last night to celebrate MIRA’s first anniversary, Commissioner General of Taxation Yazeed Mohamed said that recovering the outstanding debts was one of its main achievements in the past year as the institution had “given up hope” of collecting the money.
Yazeed said that MIRA was able to recover Rf125 million from debts that it was prepared to write off due to the “sincere efforts of the enforcement team,” according to local media reports.
MIRA has filed 11 cases at court to recover unpaid rents and fines, said Yazeed, three of which were ongoing while an additional two cases have been settled out of court.
An audit report of the former department of inland revenue released in October 2009 revealed that it had failed to collect over Rf1.1 billion (US$85 million) in unpaid taxes, resort rent and fines.
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MIRA has the best enforcement team
This is about 10% of debts. This is a good start but lot of hard work ahead. Recovering the debts will not only benifit us financially it is also a signal that we are serious about enforcing the law.