All water extracted from underground now taxable

All water that is extracted from underground in the country is now taxable.

Cabinet based this decision on a submission made by the Attorney General and Minister of Trade, Aiyaz Sayed-Khaiyum who sought to make an amendment in the 2008 Water Resource Promulgation.

According to Sayed-Khaiyum, to avoid any doubt, where a person or a business extracts 3.5 million litres of water or above in a month, that person or business shall pay water resource tax at the rate of 15 cents for every litre extracted in that month.

He added that the resource tax is not only for every litre extracted over and above 3.5 million litres.

Story by: Paradise Tudrau