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…
Salary Board Recommends Minimum Wage to Minister
The Salary and Remuneration Advisory Board, on 20 February 2020, published a report on recommendations to the Minister of Economic Development on setting the National Minimum Wage.
Based on studies conducted which focused on two approaches – the…
25th Amendment to the Goods and Services Tax Regulation Published
On 12 February 2020, the 25th Amendment to the Goods and Services Tax Regulation (Regulation Number 2011/R-43) was published in the Government Gazette.
The amendment repealed Section 12(d) of the GST Regulation which defined “date of commencement…
Maldives Foreign Direct Investment Policy Published
A Foreign Direct Investment (FDI) Policy which would govern the approval guidelines in relation to foreign investments in the Maldives has been published. The new policy consolidates existing FDI approval practices and introduces new policy changes. The…