Reference is made to the Ministry’s announcement number (IUL) 88-LS/88/2016/26 dated (15th August 2016).

The calculation of Lease Acquisition Costs for Islands/lagoons/Plots of Land under Regulation Number: R-69/2016 (Regulations for Submission of Proposals for Leasing of Islands, Land and Lagoons for Tourism Purposes) published along with the aforementioned announcement have now been revised and published in attachment with this announcement.

Hence, the new formula has been publicly announced and is included as an attachment to this announcement.