The key modification under the new amendment is the revised timeline for fee payments related to lease period extensions.

Leaseholders now have a six-month window each year to make their payments.'

Those who complete their payments within this initial six-month period will incur a fee of USD 100,000 annually.

However, if the payment is made after this period, the annual fee will increase to USD 200,000.

Additionally, the amendment revises the conditions for extending leases on tourist resorts and integrated tourist resorts for an additional forty-nine years.

To benefit from this extension, leaseholders must make a lump sum payment of USD 5,000,000 within the first six months after the amendment comes into effect.

If payment is delayed beyond this period, the fee will double to USD 10,000,000. 

Following its ratification, the amended Tourism Act has been published in the Government Gazette and is now in effect.