According to Raajje on November 3, Maldives President Dr. Mohamed Muizzu has approved the amendment to tax cigarettes and vapes.
In mid-October this year, the parliament passed a proposal to tax vapes and cigarettes with 65 votes in favor.
The President of Maldives approved the 19th Amendment to the Export and Import Act, which made significant changes to the import tax on tobacco and vapes. The amendment changes the import regulations for tobacco products in Section 5 of the Export and Import Act, covering processed tobacco, tobacco substitutes, vapes, heated tobacco products and their components. In addition, the content of Chapter 24 of Section 7 has also been adjusted.
According to the new regulations, all products under the general and processed tobacco product categories will be subject to a 200% tariff, except for some specific items. Flavoring chemicals for cigarettes, Beedi (Indian hand-rolled cigarettes) and vapes, heated tobacco products and their consumables will be subject to a 50% tariff of 8 Rufiyaa (MVR) (US$0.52) per stick or milliliter.
The President also revealed that the amendment of Section 7, Chapter 85, concerning electronic machinery, equipment and components, will impose a 200% import tax on vapes, atomizers and heated tobacco products. Other important amendments include that all relevant rules and regulations need to be formulated or updated and published in the Government Gazette within 30 days after the amendment comes into effect. The amendment will officially take effect on November 1, 2024.
Earlier, the President announced on the social platform “X” that the import of vape devices and their components will be banned. The ban will take effect on November 15, 2024, and the use, possession, production, sale, promotion and free distribution of vape devices in the Maldives will be prohibited from December 15, 2024.
As the Maldives adjusts its vape tax policy, the Veehoo vape brand is also constantly adjusting its strategies and operations to adapt to this new regulatory environment. The brand always adheres to local regulations to ensure that the product provides consumers with a high-quality vape experience under the premise of compliance.
In addition, Veehoo vapes have also been actively paying attention to the formulation and updating of various industry standards to ensure the safety and legality of the products. The brand strives to ensure that all necessary warning information is clearly marked on the product packaging to guide consumers to use vape products correctly and avoid potential health risks.
At a time when the vape industry is facing increasingly stringent supervision and regulatory constraints, the Veehoo vape brand will continue to take a responsible attitude, be committed to providing consumers with safe and reliable products, and comply with local regulatory requirements. By keeping consistent with the regulations of various countries and constantly adjusting its own strategies.
Tags: Maldives New Tax Bill on vapes，Maldives President Muizzu，veehoo vape
