Maldives hikes import duty of cigarettes, energy drinks

President Yameen pictured during his official visit to Saudi Arabia. PHOTO/PRESIDENT'S OFFICE

President Yameen pictured during his official visit to Saudi Arabia. PHOTO/PRESIDENT’S OFFICE

President Abdulla Yameen Abdul Gayoom on Thursday ratified the amendment to the Export Import Act to hike the import duty of cigarettes and energy drinks effective immediately.

According to the bill, the import duties of cigarette packs and energy drink cans have been increased by MVR 20 and MVR 8 respectively.

The amendment imposes an import duty of MVR 2 per cigarette stick with an additional charge of 25 percent as an invoice value. Hence, cigarette sticks will now be priced between MVR 3.50 – 4.00.

The original bill, lobbied on behalf of the government by its coalition partner Maldives Development Alliance (MDA)’s lawmaker Ahmed Amir, had proposed to increase taxes of energy drinks and soft drinks to MVR 4.60 per litre. However, the final amendment changed the duty of energy drinks to MVR 33.64 per litre.

Accordingly, increases in price henceforth include Red Bull cans from MVR 20 to MVR 28, and XL Energy Drink cans from MVR 15 to MVR 23.

Moreover, the amendment imposes an import duty of 15 percent on drinking water.

Be the first to comment on "Maldives hikes import duty of cigarettes, energy drinks"

Leave a comment

Your email address will not be published.


*