Sixth Amendment to the Income Tax Regulation

The Sixth Amendment to the Income Tax Regulation introduces a number of significant changes to the Maldives income tax framework.

Our Client Advisory on the Sixth Amendment to the Income Tax Regulation provides an overview of the principal changes and their practical implications, including the new lease treatment and transitional adjustment, revised capital allowance rate for buildings of specified tourist establishments, EWT treatment of staff accommodation, functional currency determination, cash-basis accounting and filing thresholds, changes to the audit report and consolidated financial statement requirements, and other registration and compliance changes.

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