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…

Surcharges Not in Purview of Tax Rules Supreme Court

by Fathuhulla Ismail, Counsel   Supreme Court of the Maldives on 20 March 2017 has decided ADK Trade and Shipping Pvt Ltd v State (Maldives Customs Services), its case number 2015/SC-A/10. The case decided the effect and application of…

Land Sale Regulation Grants the Minister Power to Set Minimum Tax

The Ministry of Housing and Infrastructure, on 15 August 2017, published the 2nd Amendment to the "Regulation on Privatising and the Sale and Purchase of Land 2008" which changes the composition of the committee created under Section 10 and, allows the…

CTL Strategies Conducts Seminar on WHT for Tourism Professionals

A seminar on "Contemporary Issues on Withholding Tax in the Tourism Industry" was conducted by CTL Strategies on 12 August 2017. The seminar held at hotel Jen was attended by CFO's and accounting executives from several 5 star and 6 star tourist establishments. The…

Tourism Permit Not Required Prior to Signing Management Agreements

The Ministry of Tourism, on 3 August 2017, published the 3rd Amendment to Regulation Number 2010/R-14 (Grant of Rights – land and islands leased for tourism purposes) which allows for the signing of a management agreement prior to receiving the relevant…