Maldives Inland Revenue Authority (MIRA) has said that over MVR 900,000 in revenue stamps have been refunded so far with the abolition of the Revenue Stamp Act.

MP Ali Azim proposed to abolish the act that requires revenue stamps on certain documentation, on 5 July 2021. And the motion was passed with the vote of 44 of the 45 MPs present at the session. MP Azim's motion said that the the revenue stamp act came to fruition in 1970 and in the modern world, it is more expensive to have the system based on the profit it generates.

After two months since the abolition, MIRA published statistics yesterday saying that as of yesterday, MVR 995,167.20 have been refunded for revenue stamps. Mira has opened the chance to refund the stamps they sold until 15 November.

Those who wish to refund their stamps sold by MIRA are to fill the stamp refund form and submit to a MIRA office.