Deferment of Lease Rent of the Resorts, Hotels and Guest Houses
As per the Ministry of Finance Circular numbered 13B3/CIR/2020/34 (28 June 2020) the Government of Maldives has decided to defer the lease rent of Resorts, Hotels and Guest Houses for the third and fourth fiscal quarter of 2020 to be paid from 1st June 2021 as a measure to provide financial assistance to the tourism industry to overcome the economic downturn due to the COVID19 pandemic. The deferred lease rent will be divided into four (4) equal quarterly payments and will be due according to the following deadlines.
- 1st quarterly payment 30 June 2021
- 2nd quarterly payment 30 September 2021
- 3rd quarterly payment 31 December 2021
- 4th quarterly payment 31 March 2022
Applicable fines and interest on lease rent payments will accrue if payments are not made according to the schedule specified above.