Deputy Speaker of Parliament and Dhiggaru MP Ahmed Nazim has claimed that cases of unjust enrichment are being examined at the Parliament’s Finance Committee.
Speaking during the debate on proposed amendments to the Administrative Taxation Act, Nazim said heads of institutions and individuals in independent positions are acquiring illicit wealth, concealing it, and transferring it to their family members.
He stated that the proposed three-year jail term included in the amendment would act as a deterrent and prevent such individuals from gaining unjust wealth. Nazim also noted that the amendment would lead to significant improvements in how financial statements are submitted.
Nazim’s remarks come as the government seeks to amend the Administrative Taxation Act to strengthen penalties for tax-related offenses and grant broader powers to the Maldives Inland Revenue Authority (MIRA).
Speaking during the debate on proposed amendments to the Administrative Taxation Act, Nazim said heads of institutions and individuals in independent positions are acquiring illicit wealth, concealing it, and transferring it to their family members.
He stated that the proposed three-year jail term included in the amendment would act as a deterrent and prevent such individuals from gaining unjust wealth. Nazim also noted that the amendment would lead to significant improvements in how financial statements are submitted.
Nazim’s remarks come as the government seeks to amend the Administrative Taxation Act to strengthen penalties for tax-related offenses and grant broader powers to the Maldives Inland Revenue Authority (MIRA).
