Legal Opinion

Tax authority freezes accounts of Gasim’s Villa Shipping company

March 23 14:08 2017

The Maldives Inland Revenue Authority has frozen the bank accounts of Jumhooree Party leader Gasim Ibrahim’s Villa Shipping and Trading company over US$18 million allegedly owed as fines and unpaid rent.

The move comes days after Gasim predicted that Villa’s accounts could be frozen ahead of Monday’s no-confidence vote against the speaker of parliament.

MIRA reportedly did not give any notice seeking payment before freezing the accounts.

A spokesman for Villa told the Maldives Independent that the tax authority informed the company late on Wednesday night that the accounts have been frozen over US$14.6 million owed as fines and US$3.7 million owed as land rent for the island of Elaa in Thaa atoll.

Full details are available from the link below:

Source URL:  Maldives Independent

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