Tag: Tax bill

Three bills ratified at end of 2011

President Mohamed Nasheed today ratified three bills passed by the People’s Majlis.

The Partnership Bill, stating the guidelines for the formation, registration and operation of business partnerships in the Maldives, categorises partnerships into ‘General’ and ‘Limited Liability’.

The First Amendment Bill to Tax Administration Act (Act number 3/2010) was also  passed during the Parliament’s sitting on 19 December 2011, and ratified today.

The National Health Insurance Scheme Bill passed during its sitting on 21 December 2011, and was ceremoniously signed by the Health Minister at the Artificial Beach. It has been ratified, and the insurance scheme Aasandha will go into effect tomorrow, January 1, 2012.

The bills have been published in the government gazette.

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Madhana takes bids as goverment backs away from profit

National health insurance program Madhana will be privatised under a Public-Private Partnership to prevent “unwise” government control of a profitable business, said President Mohamed Nasheed.

The president said all citizens would be included in the insurance program by next January as long as Parliament passes the relevant Tax and Business Profit Tax bills.

An estimated Rf850 million will be spend on insuring the Maldives’ entire population. The government hopes to sign an agreement with Islamic Development Bank (IDB) in November, which would provide a US$258 million loan towards developing health services in Addu City, reports Haveeru.

The Madhana program will be handed over once proposals from local and foreign companies have been received and reviewed.

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