MIRA Calls Upon Taxpayers That Do Not Meet Registration Requirements to Deregister
The MIRA has issued announcements requesting taxpayers who do not fulfil tax registration requirements under the Tax Administration Act, or GST registration requirements to deregister from tax.
The announcement, issued on 16 January 2019, reminds…
Cash Declaration Limit Changed
The Maldives Monetary Authority, on 17 January 2019, published the first amendment to the Regulation on Cross Border Currency Declaration Amount.
The changes introduced now require passengers travelling with USD 20,000 or more, and are travelling…
Guide on Managing Tax Audits
Tax audits conducted by the Maldives Inland Revenue Authority (MIRA) loom over virtually every business operating in the Maldives. The Examination of your accounts and financial affairs tends to be a time-consuming and arduous process which may remove…
High Court Confirms TAT Ruling on Third Party Payments
The High Court of Maldives has upheld the Tax Appeal Tribunal’s decision on a case which focused on the subjectivity of withholding tax on payments made by a person other than the taxpayer.
On 23 November 2016, the High Court of Maldives upheld…
Tax Alert, 8 December 2016
This issue covers the following developments:
1. Publication of the Salary Enforcement Regulation, which prescribed crucial rules for the implementation of Remittance Tax
2. Nineteenth Amendment to the GST Regulation: New rules on time of supply
3.…