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…
Dangerous Chemicals Regulation Published
On 23 September 2019, the “Dangerous Chemicals Regulation” was published in the Government Gazette. The Regulation sets out procedures on the import, storage, sale and disposal of dangerous chemicals.
The Regulation was published under special…
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Under the proposed amendment, Section 6 of the Business Registration Act is to be repealed, effectively removing…
Upper Limit on Compensation for Businesses to be Proposed in Guidelines
On 26 August 2019, a decree was submitted to the Peoples Majilis urging the Government to formulate a policy on managing financial obligations towards parties that the Government has entered into agreements with.
The decree, proposed by Thulhaadhoo…