HYDERABAD: In breather to GMR Group, the Maldivian government has decided not to press for income tax and fines of over USD 20 million from the infra major on the compensation it received from the island nation for the premature termination of Male International Airport contract.
In a statement issued on May 23, the Maldivian Attorney Generals Office has said no sum will be imposed on GMR by the Maldives inland Revenue Authority on the Final Award Sum in respect of taxes.
The Maldivian government in 2017 had slapped a notice seeking USD 20.5 million (approximately Rs 137 crore) towards income tax and fines from GMR Male International Airport Private Limited, a GMR group company, that won USD 270 million arbitration against the premature termination of the contract for modernisation and operation of the Male airport.
