MATATO reaffirms support for fiscal reforms

The Maldives Association of Travel Agents and Tour Operators (MATATO) has issued a statement to clarify its stance on the proposed amendments to the Goods and Services Tax (GST) Act. Contrary to some recent misinterpretations, MATATO says it is not opposed to the collection of tax in US dollars (USD). The organisation emphasises that its primary concern is ensuring that the implementation of these reforms aligns with the practical realities of the tourism sector.

MATATO highlights that the collection of tax in USD for USD income is essential and a change that will significantly boost the economy. This clarification aims to dispel any confusion and reaffirm MATATO’s support for the proposed fiscal changes.

MATATO acknowledges the critical importance of effective fiscal policies and the need for reforms that enhance revenue collection and address inefficiencies within the system. The organisation believes that the time is ripe for these long-needed reforms and fully supports the government’s broader fiscal objectives.

MATATO remains committed to working collaboratively with the government to ensure that any changes to the GST Act are implemented in a manner that benefits the Maldives’ economy while safeguarding the interests of the tourism sector. The association looks forward to continued dialogue and cooperation with all stakeholders to achieve these common goals.

MATATO has expressed its support for President Dr. Mohamed Muizzu’s forward-thinking vision and strategic approach to improving the current economic situation in the Maldives. The organisation backs the government’s efforts to implement a comprehensive fiscal reform agenda aimed at reducing recurrent expenditure and introducing cost-saving measures to ensure the financial stability and sustainability of the Maldives’ economy.

MATATO pledges its commitment to progress towards the President’s goals for the betterment of the tourism industry and the nation as a whole.