Parliament
Parliament's Economic Affairs Committee
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Economy
Bill to scrap GST on inbound tourism services sent to Committee
A bill to remove Goods and Services Tax on inbound tourism products and services supplied by businesses without a permanent establishment in the Maldives has been referred to Parliament's Economic Affairs Committee after the Whole House Committee approved the referral with all 47 voting MPs in support. The bill, which also seeks to strengthen MIRA's enforcement against GST non-compliance, would reverse the GST introduced on such services from 1 October.
Economy
Maldives fisheries could plummet by 75 percent
NGO Maldives Resilient Reefs presented a study warning that climate change could cut fish stocks in Maldivian waters by 75 percent by the end of this century, telling a joint parliamentary committee meeting that rising ocean temperatures are pushing fish toward cooler Indian Ocean regions. Official statistics show fish purchases by companies fell 60 percent in the first six months of this year, the worst downturn in 26 years.
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