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…
Overview of Sixth Amendment to Employment Act
This publication gives an overview of the Sixth Amendment to the Employment Act that was published in the Government Gazette on 22 September 2020.
Public Health Emergency Act
The Public Health Emergency Act was published on 22 September 2020 and sets out provisions with regard to special procedures needed to implement temporary measures and to facilitate smooth functioning of the state authorities in order to provide safety and assistance to the individuals, families and businesses during the period of state of public health emergency declared as a result of the ongoing the coronavirus COVID-19 pandemic.
Large Payments to be paid only via MIRAconnect, Vaarupay or MRTGS
From 1 October 2020 onwards, payments made to the MIRA exceeding MVR 100,000 and USD 5,000 must be paid via MIRAconnect, or using the Vaarupay card and MRTGS.
Regulation on Registration of Fruit and Vegetable Vendors
On 3 September 2020, the Regulation on Registration of Fruit and Vegetable Vendors was published.
Supreme Court Judgement: Bank of Maldives Plc v Fathmath Maleeha Jamal
An appeal where the Supreme Court considered whether the respondent’s employment contract was terminated in accordance with the Employment Act.
Competition Act
On 31 August 2020, the Competition Act was published in the gazette which sets out the provisions to develop and maintain a competitive commercial environment for enterprises, and sets out restrictions, and prohibits business practices and arrangements which may have a negative impact on competition.
Maldives Chartered Accountants Act
On 8 September 2020 the Maldives Chartered Accountants Act was published, introducing a new independent institution - The Institute of Chartered Accountants of the Maldives. The Act empowers the governing council of the institute to regulate, and develop the field of chartered accountancy in the Maldives.
Consumer Protection Act
On 31 August 2020, the Consumer Protection Act was published, which sets out the rights and protections granted to consumers, and prescribes duties and responsibilities of suppliers of goods and services in the Maldives.
Fourth Amendment to the Land Transport Act
On 31 August 2020, the Fourth Amendment to the Land Transport Act was published, introducing the formation of a road safety council and other key changes.