Villa Shipping accounts have been released by Maldives Inland Revenue Authority (MIRA) following a freeze on the accounts
.
It has been reported to Miadhu that the accounts were released after the Group sent a letter stating that the company had no option but to pay the amount the Government had claimed as fines and rent, in order to proceed with the normal operations of the company.
The letter said that the company was offering to pay the amount due to the restrictions MIRA had placed on the company which had impacted the finances and operations of the company. Additionally, the letter noted that the cases against the Company are presently in lengthy trials which again impacted the operations. Therefore, the letter stated that the Company was ready to start a payment plan for the fines. However, the letter stated that the fines were not due for the company and as such there were no fines that need to be paid.
Villa Shipping had proposed a payment plan of four equal installments due every six months, with the first installment amount due at the end of the sixth month. As such, the group has to pay US$ 1 million every six month.
Tourism Ministry has accepted the payment plan and stated that they had no issues with the proposed plan
.
Villa Group lawyers have stressed in the trials that the Group had no fines or rent due in connection to the lease of Thaa Elaa. The lawyers state that all the due taxes, rent and fines have been diligently paid for by the Group.
Villa Shipping accounts released by MIRA
