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…

Year in Review 2017

This edition of Year in Review focuses on the major changes in tax rules and important regulatory changes in 2017 that impacts businesses in the Maldives. You can refer to our publications on the same rulings or changes to find out more information regarding…

The Maze of Withholding Tax

by Husam Shareef, Tax Advisor As you may notice from the heading, the rules on payment of Withholding Tax (WHT) have become rather complex - creating a maze that you need to carefully navigate. Finding out about compliance issues during a tax audit…