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…
High Court Judgement: Hilton International v Sun Travel and Tours
On 6 July 2020, the Maldives High Court gave its judgment in the appeal filed by Hilton International Manage (Maldives) Pvt Ltd against Sun Travel and Tours Pvt Ltd. The Court struck down the Civil Court’s decision to award damages to Sun Travel & Tours.
MIRA to Collect Non-tax Amounts on behalf of the State
An Amendment to the Public Finance Regulation is published by the Ministry of Finance, which states that non-tax amounts specified in the Regulation will be collected by the MIRA.
Certain payments to the State only accepted as E-payments
A Circular issued by the Ministry of Finance states that from 1 October 2020 onwards, all payments made to government offices exceeding MVR 100,000 and USD 5,000 must be paid as e-payments.
Tax Alert, 2 July 2020
This issue is focused on the Twenty Sixth Amendment to the GST Regulation published by the MIRA on 26 June 2020. The Amendment introduces several notable changes to the GST Regulation, including a definition for the term ‘charter’ of a vessel and special rules for determining charter arrangements.