Business Tourism

Yacht Tours ordered to bay USD 29M as rent and fine

Civil Court has ordered Yacht Tours to pay USD 29 million as rent and fine to the Maldives Inland Revenue Authority (MIRA) for failing to make payments as per the agreement made to develop Haa Alifu Atoll Alidhoo as a tourist resort.

Judge Ali Abdulla delivered the verdict today saying that USD 5.6 million is owed to the state as rent and for failing to pay that money, the company owes a fine of USD 23.4 million according to the documents submitted.

But since Yacht Tours have failed to pay that money to MIRA, the company owes the state USD 29 million up to April 2017. The verdict also states that until that money is paid in full, Yacht Tour has to pay the fines that are added until that point as well.

Yacht Tours is a company owned by the former MP for Kaashidhoo constituency, Abdulla Jabir and has widely operated in the Maldivian tourism sector.

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