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…
FREE Webinar on Service Charge
The webinar is targeted at employer, human resources personnel, and accountants in the tourism sector. The duration of the webinar is expected to be 1 houe. It will take place on 3 April 2020 at 3:00 pm.
The Chaotic Non-resident Contractor Tax Rules
This article explores the current tax position on non-resident contractor payments.
Country-by-Country Reporting Regulation Published
With the Third Amendment to the Tax Administration Act, the Maldives Inland Revenue Authority (‘MIRA’) was granted the authority to regulate the submission of Country-by-Country Reports (CbCR) to the MIRA.
President seeks Parliamentary consideration on joining the Convention on Mutual Administrative Assistance in Tax Matters
On 29 February 2021, the President’s Office issued a press release on seeking parliamentary consideration on joining the Convention on Mutual Administrative Assistance in Tax Matters.
Regulation on Pensionable Wage Published
The Regulation on Pensionable Wage was gazetted on 25 February 2021. The primary objective of the Regulation is to provide for the requirements related to Pensionable Wage for the purposes of calculating contributions to Maldives Retirement Pension Scheme (MRPS).
CTL Strategies Celebrates its 6th Anniversary
CTL Strategies has been ranked in the 2021 edition of Chambers and Partners, which is often regarded as the “gold standard” in the legal profession.
Travel Agency Regulation
On 25 February 2021, the Travel Agency Regulation was gazetted, replacing the regulation that was in place since 2006. The new regulation introduces new rules for both foreign and local tour agencies.