Economic Minister Mohamed Saeed said the decline in import duty revenue is not caused by the China FTA, noting only MVR 2.3 million of duties had been waived under the deal this year. Finance Ministry data showed import duty revenue was MVR 246 million lower from January to 6 February than in the same period last year, while total government revenue fell by MVR 874 million.
One outlet so far Only Maldives Republic has reported this among the sources we monitor. A gap in what we monitor, not proof that others did not report it.
So far this year, goods worth MVR 1 billion have been imported with a CIF value of MVR 34 million. Of that, only MVR 2.3 million was waived under the FTA,
That’s just 1% of total imports. This fall has nothing to do with the FTA.
Nothing to compare yet. If another monitored source reports it, its headline appears beside this one.
“So far this year, goods worth MVR 1 billion have been imported with a CIF value of MVR 34 million.
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“So far this year, goods worth MVR 1 billion have been imported with a CIF value of MVR 34 million.
Word for word from the report in Maldives Republic. Open the report
Of that, only MVR 2.3 million was waived under the FTA,” he said.
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“That’s just 1% of total imports.
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According to Finance Ministry data, import duty revenue from January to 6 February was MVR 246 million lower than the same period last year.
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Total government revenue also fell by MVR 874 million.
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Authorities expect higher duties on cigarettes and bidding processes to generate an additional MVR 1 billion.
Word for word from the report in Maldives Republic. Open the report