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…

Tribunal Declares MIRAs Decision Invalid, Orders Re-audit

On 15 May 2019, the Tax Appeal Tribunal decided, by way of majority decision, in favor of the Appellant, Maldives Passions Private Limited and ordered the MIRA to re-audit the taxable periods under dispute in the appeal case. The Tribunal, with a majority…