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…
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.…
Tourism Ministry Introduces Share Transfer Fee and Increases Lease Transfer Fee Under Grant of Rights Regulation
The Ministry of Tourism, on 31 October 2017, published the 4th Amendment to Regulation Number 2010/R-14 (Grant of Rights – land and islands leased for tourism purposes) which, by effect of the Amendment, transfers fee impositions from Regulation Number…