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…
Tax Alert, 18 February 2018
This issue covers the following:
1. Changes brought to the imposition of WHT on commission paid to Online Travel Agencies. These changes are introduced via the First Amendment to the Tax Ruling TR-2013/B25.
2. New rules introduced by the Twenty-third…
New Ruling makes Construction of Social Housing Projects an Exempt Supply
The Maldives Inland Revenue Authority has published Ruling G46 on 8 February 2018 which makes the construction of housing projects under a social housing scheme, an exempt supply.
To qualify that project as an exempt supply, the GST registered party…
CTL Conducts Webinar on Recent Tax Rulings
A web-based seminar on "Recent Developments on GST and WHT" was held by CTL Strategies on 10 February 2018, which focused on some important changes to the Goods and Services Tax regime and Withholding Tax regime.
The first of it's kind conducted by a…