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…

Tax Alert, 17 SEPTEMBER 2017

This issue covers the following: 1.Tax Ruling G42, which amends the GST registration requirements for taxable activities in the general sector, which are run by a person having taxable activities also in the tourism sector. 2. Limitations on claiming…

Focus, 17 SEPTEMBER 2017

This first issue of Focus is on the requirements of the Directors' Report that has to be submitted under the Companies Act of the Maldives (Law Number 10/96). The information listed is compiled from an information sheet published by the Ministry of…

Mandatory General GST Registration for Tourism GST Registrants

The Maldives Inland Revenue Authority has published Ruling G42 on 7 September 2017 which amends Section 11 of the Goods and Services Tax Regulation. The amended Section 11 requires persons who are already registered for Tourism GST to register for…