Attorney General has revealed that over MVR 4.5 billion is owed to the state since 2008, in debt, fines and misappropriated funds.
Attorney General Mohamed Anil made this statement during a press conference held on Tuesday afternoon at the President's Office. Addressing the press conference AG Anil said that relevant government authorities are diligently working to recover funds owed to the state by different businesses, institutions and individuals.
These include loan payments, payments cited in audit reports released since 2008, defaulting tax payments, fines owed to the state by companies and institutions and misappropriated funds, which amounts to over MVR4.5 Billion, he said.
The Attorney General also revealed that bank accounts of 17 parties have been frozen in order to recover these funds.
Anil added that Maldives Inland Revenue Authority, Ministry of Finance, Anti-Corruption Commission & Attorney General's Office are probing these cases and working on recovering these funds, as per legal and lawful obligations. MIRA was able to recover over MVR1 million in funds owed to state in past 3 years, he said.
Anil added that legal action will be taken against those who fail to make payments despite repeated warnings by authorities. He noted efforts by MIRA and the Ministry of Finance, to notify businesses to make due tax payments and fines.
Anil revealed that during the past couple of years, the AG office received over 60 cases related to debt owed to the state, out of which 10 cases have been forwarded for prosecution. The state is expected to recover 57 million rufiyaa through these 60 cases alone.
Addressing the press conference Minister of Tourism Moosa Zameer attributed the difficulty in recovering funds owed to the state, to the lack of a bankruptcy law. He revealed that approximately 4 billion Rufiyaa is owed to state as taxes and fines through tourism businesses.