Deputy Speaker of the Parliament Ahmed Nazim stated that the parliament is working to recover USD 999,000, from the state budget as of May.
In a post shared on social media, Deputy Speaker Nazim disclosed that decisions were made to hold the Commissioner General of Taxation Hassan Zareer accountable, in the Public Account Committee meeting, which is to take place on July 30. Zareer will appear before the committee to provide details regarding the uncollected revenue by the Maldives Inland Revenue Authority (MIRA). According to statistics shared by Nazim, the uncollected tax revenue amounts to USD 499 million, while non-tax revenue stands at USD 492 million. He underscored the necessity of addressing this issue promptly.
Speaking at the official ceremony marking the 59th Independence Day of the Maldives, President Dr. Mohamed Muizzu reiterated his commitment to fiscal reforms by confirming that state expenses were funded solely by earnings, without resorting to printing money. The president stated that recovering these funds could significantly alleviate the fiscal burden. He expressed confidence that at least half of the uncollected revenue could be recovered without legal proceedings, asserting that the government will pursue the recovery of these funds to promote economic growth and ease financial pressures.