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…
Unsolicited Proposals Policy Introduced
On 28 January 2019, the President's Office of the Republic of Maldives published the Unsolicited Proposals Policy, which sets outs the procedures under which private sector parties can propose projects that align with the government's strategic development…
Tax Alert, 27 January 2019
This issue covers the most recent developments brought to the rules on Thin Capitalisation. Thin Capitalisation rules were initially introduced by the Maldives Inland Revenue Authority (MIRA) on 26 April 2018, via Tax Ruling TR-2018/B64.
The new rules,…
MIRA Amends Thin Cap Rules
On 27 December 2018, the MIRA issued Ruling B68 which amends Thin Capitalisation rules issued by the MIRA via Ruling B64.
Ruling B64, introduced back in 26 April 2018, concerns thin capitalisation rules with respect to the deduction of interest payments…
Year in Review 2018
Our "Year in Review 2018" summarises the crucial regulatory developments in 2018. For ease of reference, these are categorised and labelled as "tax" and "legal" developments. Most of these developments are already explained in further detail in…