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…
Entries by Husam Shareef
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…
The Second Amendment to the Tax Administration Bill Introduced to Parliament
The People’s Majilis, on 20 August 2019, conducted the first reading of the proposed Bill for the Second Amendment to the Tax Administration Act. The…
Regulation on Construction Period Extension and Rent Deferment Published
On 2 July 2019, the “Regulation on Construction Period Extension and Deferment of Rent and Fines for Places Leased for Tourism Purposes” was published in…
Supreme Court Makes Landmark Decision on Medical Negligence
The Supreme Court of Maldives, on 25 July 2019, has ruled against the State (Ministry of Health) and held that medical negligence was manifest in…
Insight: Medianet Pvt Ltd v MIRA
Summary The phrase “other property” in Section 6(a)(1) of the BPT Act should be construed to include only tangible property In the case of Medianet…