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…

HPL Resorts (Maldives) Pvt Ltd v MIRA

In the case of HPL v MIRA, the Tax Appeal Tribunal held that reimbursement of expenses made under management agreements are not subject to WHT unless they are for a service specifically stated in Section 6(a) of the BPT Act. The key point noted by the…

Calculating GST & WHT on OTA commissions

by Madeeh Ahmed, Tax Advisor Note: Rules on the imposition of WHT on OTA commission have been changed via the amendments brought to the BPT Regulation after this blog post was published. We advise you not to rely simply on the information provided…

Foreign Investment Opportunities in the Maldives

It is important to enlist the help of skilled counsel with experience in legal, administrative and, tax requirements when foreign investors establish themselves in the Maldives as their choice of business structure can have different tax and legal implications.…