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…

Second Amendment to the Tax Administration Act Ratified

The Second Amendment to the Tax Administration Act, passed in the 45th sitting of the 19th People’s Majlis has been ratified today by the President and published in the Government Gazette. The legislative changes entered into force through this Amendment…

Proposed Amendments Eases Foreign Investment Restrictions

The Peoples Majlis, on 22 August 2019, continued their discussion on the bill for the first amendment to the Business Registration Act. Under the proposed amendment, Section 6 of the Business Registration Act is to be repealed, effectively removing…