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…
MED Publishes Guideline on Directors Report
The Ministry of Economic Development on 5 June 2017 published a guideline that sets out the requisite information to be included in the Directors Report of Private Companies incorporated under the Companies Act of the Maldives.
Prior to this guideline,…
Seminar on Withholding Tax for Tourism Sector Professionals
CTL Strategies LLP is conducting a seminar on contemporary Withholding Tax issues faced by businesses operating in the tourism sector. The seminar is currently scheduled to be held on the 12 August 2017 and will be held in Male’.
The seminar, which…
Changes in Rules of End of Accounting Period for Companies in Dissolution
The Maldives Inland Revenue Authority has published Ruling B61 on 29 May 2017 which amends Section 11 of the Business Profit Tax Regulation.
The amended Section 11(b)(1) of the BPT Regulation stipulates that the date on which a person or persons, appointed…