President Dr Mohamed Muizzu announced a five-year import duty exemption at zero percent on designated raw materials for MSMEs, effective January 1, 2027, along with measures including a higher GST registration threshold and a tax offset mechanism for government payment delays. He also reported that MVR 795 million in loans had been disbursed to more than 1,000 entrepreneurs during 2026.
One outlet so far Only The Standard has reported this among the sources we monitor. A gap in what we monitor, not proof that others did not report it.
President Muizzu confirmed that the second phase would begin on November 1, with the overall initiative targeting the disbursement of up to MVR 1 billion in loans.
Word for word from the report in The Standard. Open the report
From January 1, 2027, the annual turnover threshold for mandatory GST registration is planned to increase from MVR 1 million to MVR 1.5 million.
Word for word from the report in The Standard. Open the report
the government had decided to prepare a comprehensive list of raw materials that would qualify for the exemption
the second phase would begin on November 1, with the overall initiative targeting the disbursement of up to MVR 1 billion in loans
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the government has introduced concessions covering annual fees for up to 20 quotas, alongside other measures intended to reduce operating expenses.
Word for word from the report in The Standard. Open the report
announcing that MVR 795 million in loans had been disbursed to more than 1,000 entrepreneurs through Bank of Maldives (BML) and SME Digital during 2026.
Word for word from the report in The Standard. Open the report
MVR 795 million in loans had been disbursed to more than 1,000 entrepreneurs through Bank of Maldives (BML) and SME Digital during 2026.
Word for word from the report in The Standard. Open the report
more than MVR 300 million in loans had been allocated to over 3,000 young people following the completion of the programme's first phase.
Word for word from the report in The Standard. Open the report
the overall initiative targeting the disbursement of up to MVR 1 billion in loans.
Word for word from the report in The Standard. Open the report
the annual turnover threshold for mandatory GST registration is planned to increase from MVR 1 million to MVR 1.5 million.
Word for word from the report in The Standard. Open the report
From January 1, 2027, the annual turnover threshold for mandatory GST registration is planned to increase from MVR 1 million to MVR 1.5 million.
Word for word from the report in The Standard. Open the report
