Reference is made to the Ministry’s announcement number (IUL) 88-PS/88/2022/77 dated (19^th  September 2022).

The calculation of Lease Acquisition Costs for Islands/lagoons/Plot of Land for the atolls North Thiladhunmathi (Haa Alif), South Thiladhunmathi (Haa Dhaalu), North Miladhunmadulu (Shaviyani), Kolhumadulu (Thaa), Hahdhunmathi (Laamu) and Addu City under Regulation Number: R-125/2022 (Regulation on Leasing Islands, Lands, and Lagoons under Cross-Subsidization for Tourism Purposes) published along with the aforementioned announcement have now been revised and published in attachment with this announcement.

The revised concession rates shall be applicable exclusively to islands and lagoons located in Haa Alif, Haa Dhaalu, Shaviyani, Thaa, Laamu, and Addu City. These concessions shall remain in effect for a period of two (2) years from the date of publication of this announcement.

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