Supreme Court Verdict Reflects on Consequences of Countermanding Cheques
The Maldives’ Supreme Court, on 28 October 2019, upheld the ruling of both the High Court, and Civil Court, effectively concluding that countermanding a cheque…
Entries by Husam Shareef
New Commissioner General Appointed to MIRA
On 31 October, President Ibrahim Solih, appointed Fathuhulla Jameel as Commissioner General of Taxation and Asma Shafeeu as Deputy Commissioner General of Taxation. Fathuhulla, a…
New Commissioner General Approved by Majilis
On 28 October 2019, the People’s Majilis approved Fathuhulla Jameel as the new Commissioner General of Taxation of the Maldives Inland Revenue Authority. Following the…
Income Tax Bill submitted to the Parliament
The Government of Maldives has sent the draft of the Income Tax Bill (“ITB”), intended to introduce Personal Income Tax and redesign the existing Business…
Tax Alert, 15 October 2019
This issue covers the major changes that came into force with the ratification of the Second Amendment to the Tax Administration Act1 on 12 September…
Dangerous Chemicals Regulation Published
On 23 September 2019, the “Dangerous Chemicals Regulation” was published in the Government Gazette. The Regulation sets out procedures on the import, storage, sale and…
Second Amendment to the Tax Administration Act Ratified
The Second Amendment to the Tax Administration Act, passed in the 45th sitting of the 19th People’s Majlis has been ratified today by the President…
Proposed Amendments Eases Foreign Investment Restrictions
The Peoples Majlis, on 22 August 2019, continued their discussion on the bill for the first amendment to the Business Registration Act. Under the proposed…
Upper Limit on Compensation for Businesses to be Proposed in Guidelines
On 26 August 2019, a decree was submitted to the Peoples Majilis urging the Government to formulate a policy on managing financial obligations towards parties…