Maldives Inland Revenue Authority (MIRA) has withdrawn a lawsuit, filed to recover MVR 56 million in unpaid taxes, against Jumhoory Party leader Qasim Ibrahim’s Villa Shipping and Trading Company after the firm settled the lawsuit.
MIRA had filed three lawsuits at the Civil Court last month, after Villa shipping failed to pay more than MVR 74 million it owed to the government as Goods and Services Tax (GST). MIRA had previously taken back one of the lawsuits after the company had settled the USD 1.2 million claimed.
MIRA communicated to the Civil Court on Monday that Villa Shipping had settled the remaining USD 3.2 million the state was seeking to recover, hence the court had closed both lawsuits.
The USD 3.2 million settled by Villa includes GST and related penalties from four of Villa resorts. The remaining USD 7.4 million is the amount Villa Shipping owes the state as GST.
However, Villa Shipping still has more ongoing lawsuits at the Civil Court, regarding more payments it owes the state.
The state has sued Villa Group’s subsidiaries for a staggering MVR 2.5 billion in various unpaid payments, taxes and fees. Villa Group has dismissed the claims stating that the company does not have to settle the amounts claimed in the lawsuits. The government has subsequently withheld Villa’s license to import liquor and pork products to its resorts. Later a temporary license was issued but has since expired.
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Source URL: Mihaaru-News