Ilyas Pledges Tourism Incentives for Northernmost Atolls
Photo: twitter via @Simwarr
Ilyas Labeeb, the presidential candidate representing The Democrats, has unveiled plans to introduce substantial incentives for individuals looking to invest in the development of tourism within the northernmost atolls of the Maldives.
The announcement came during Labeeb’s discussion of his party’s manifesto at a campaign event held in Dhidhdhoo, Haa Alifu Atoll.
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Addressing the attendees, Ilyas Labeeb outlined that investors who engage in tourism projects within the northernmost atolls will be eligible for a waiver of the Tourism Goods and Services Tax (TGST) for the initial three years on tourism-related goods and services. Following this initial period, investors would then be subject to paying 50% of TGST.
Labeeb further underscored the potential for enterprises such as guesthouses and boutique hotels, highlighting their potential for profitability within the Maldives’ economic landscape. He expressed his commitment to providing financial support and necessary resources to individuals aspiring to establish such ventures.
He also pointed out that his party’s manifesto incorporates a clear and concise business policy designed to simplify the process for those interested in pursuing such entrepreneurial initiatives.
