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…
National Payment System Act
The National Payment System Act which regulates the operation of payments systems, clearing systems, settlement systems and payment services.
Regulation on the Classification of SMEs
The Regulation provides further details on the registration and classification of SMEs.
Fourth Amendment to the Regulation on the Operation of Guesthouses
The Fourth Amendment to the Regulation on the Operation of Guesthouses was published on 30 December 2021, beginning a new chapter for Maldivian tourism sector. Under the Amendment, it is now permitted to establish homestay tourist guesthouses in residential…
Maldives Energy Act
The law introduces a new licensing regime to regulate the energy sector of Maldives and repeals the Utility Services Act