The Maldives is hosting the 8th Annual Meeting of the Asia Initiative for the first time, bringing together key stakeholders in tax transparency and international cooperation.

The event, organized by the Global Forum on Transparency and Exchange of Information for Tax Purposes, commenced on May 26 at Villa Nautica (Paradise Island Resort), and will run through May 28.

The opening ceremony was officiated by Minister of Finance and Planning, Moosa Zameer, who praised the efforts of the Maldives Inland Revenue Authority (MIRA) in organizing the high-level international meeting.

In his address, the Minister highlighted the importance of tax reforms and fiscal policy adjustments to enhance national revenue and reduce reliance on foreign debt.

Minister Zameer also emphasized the significance of global collaboration in tax matters to address pressing challenges such as climate change and to ensure sustainable funding for education, healthcare, and other essential services.

This year's meeting marks the first since the appointment of Commissioner General of Taxation Hassan Zareer as Co-Chair of the Asia Initiative.

In his remarks, Zareer expressed pride in hosting the meeting, noting it reflects MIRA’s ongoing commitment to international tax cooperation and its evolving role in shaping robust tax policies.

Zareer also underlined the need for greater collaboration among tax authorities to overcome common challenges and lauded the Global Forum's efforts in fostering cross-border cooperation and capacity building among Asian nations.

The gathering includes 38 delegates from 11 member countries, with three additional countries participating as observers.

Representatives from regional and international organizations such as the Asian Development Bank (ADB), the Commonwealth Association of Tax Administrators, and the Study Group on Asia-Pacific Tax Administration and Research (SGATAR) are also in attendance.

Head of the Global Forum Secretariat, Zayda Manatta, commended MIRA for its warm hospitality and meticulous organization.

According to MIRA, event is being supported by a wide range of national stakeholders, including the State Trading Organization (STO), Maldives Police Service, Maldives Customs Service, Aviation Security Command, Maldives Transport and Contracting Company (MTCC), Huraa Council, Maldives Airports Company Limited (MACL), Dhiraagu, and others.