Ministry of Finance has stated the lease rent of resorts for the second half of 2020 has been deferred until June 2021.
In a statement, the finance ministry said the administration is working on providing additional assistance to businesses affected by the COVID-19 pandemic, as part of the economic recovery plan. As such, the ministry announced the payment of lease rent of resorts for the third and fourth quarters of 2020 have been deferred until June 2021.
The finance ministry further said the deferred payments would have to be made over a 1-year plan. In this regard, quarterly payments for the deferred period would have to be made on a quarterly basis within 1 year, beginning from June 2021. Monthly payments for the deferred period would have to be made on a monthly basis within 1 year, beginning from June 2021.
The finance ministry further said no fines will be imposed for not paying rent during the deferred period. The ministry said fines would be imposed on the payments for the deferred period if it is not paid within the deadline allocated after June 2021.
During a televised address in May, President Ibrahim Mohamed Solih had announced the decision to defer resort lease payments for the second half of the year. The president said the decision to defer lease fees was made to provide a relief to the resorts as the tourist facilities have been closed since late March. He said the same will also apply to lands leased for agricultural purposes.