A new amendment to the constitution has been proposed to the Majlis floor to reduce import duties imposed for construction equipment imported into the country.
The amendment proposed by the Member of Parliament for the Gan Constituency Ahmed Wisam states a complete waiver of the previously charged 5% duty on metal sheets, plates, and construction iron. Duty imposed on ceramic tiles is proposed to be removed in addition to decreasing the the duty on kitchen wear to 5%.
Previous estimates suggest that this amendment and the new decreased duties would garner a profit of around MVR 558 million to the construction industry.
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