29th Amendment to the Goods and Services Tax Regulation
On 27 November 2022, the 29th Amendment to the Goods and Services Tax Regulation (Regulation Number 2011/R-43) was published in the Government Gazette.
Entries by Husam Shareef
Seventh Amendment to Employment Act
The Seventh Amendment to the Employment Act (the “Seventh Amendment”), gazetted on 21 September 2022, removed the obligation on employers to pay minimum wage to expatriate employees in accordance with the Minimum Wage Order until a compliance date is announced by the Minister of Economic Development (the “Minister”).
Guidance on GST Rate Change
This Advisory guides you through any transitional issues that you may be facing with respect to the application of the correct GST rate – especially for transactions that straddle the effective date of rate change.
Tax Alert, 24 November 2022
This issue is focused on the Sixth Amendment to the GST Act (Law Number 20/2022).
The major change introduced via the Amendment is the change in GST rates that is to come into effect from 1 January 2023.
Associations Act
The Regulation provides further details on the registration and classification of SMEs.
MIRA v Dhivehiraajjeyge Gulhun Plc [2022] SC 41
A case whereby the Supreme Court clarified the rules on calculation of time limits for filing appeals of tax disputes.
Common compliance issues with Employee Withholding Tax
In this blog post, our partner and senior tax advisor Hamdhulla Hussain, focuses on analysing the practical issues faced by taxpayers in valuing benefits in kind and puts emphasis on the importance of providing clarity around the boundary between what constitutes taxable remuneration.
Overview of the Proposed Tax on Plastic Bags
With the purpose of reducing the negative environmental impacts caused by plastic waste, the Waste Management Bill proposes a tax equivalent to MVR 2 to be collected from plastic bags at points of sale. Our overview provides a summary of the proposed mechanism on the collection and administration of this tax.
Fourth Amendment to the Income Tax Regulation
This Advisory summarises the key aspects of the Fourth Amendment to the Income Tax Regulation gazetted by the Maldives Inland Revenue Authority on 17 May 2022.
Second Amendment to the SME Act
The Regulation provides further details on the registration and classification of SMEs.