Pay As You Earn (PAYE): A Guide to Getting Started

May 13, 2022/in Frontpage Article, Guides, Latest, News, Publications /by Husam Shareef

Together with an overview of the Maldives Pay As You Earn (PAYE) System, our updated PAYE Guide covers the vital legislation changes introduced since the introduction of the Employee Withholding Tax from 1 April 2020 onwards.

The changes primarily relates to:

Submission of Withholding Tax Declaration (MIRA 916)
Filing Reconciliation Statement
Exempt Benefits (threshold for interest free/subsidised loans)
Abnormal payments and computation of PAYE on a cumulative basis

If you have any questions or wish to discuss the implications , please contact one of our tax advisors or drop us an email at ‘[email protected]’.

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