CTL Strategies shortlisted for International Tax Review’s Asia Tax Awards
CTL Strategies LLP has been shortlisted by the International Tax Review as one of the Best Newcomer of the Year in Asia for the Asia Tax Awards 2020.
Entries by Husam Shareef
Tourism Ministry publishes procedures to be followed by Tourist Facilities operating in the new normal
The Ministry of Tourism, on 23 June 2020, published the Guideline for Restarting Tourism in Maldives which specifies the minimum standards to be met by registered tourist facilities by the tentative opening dates scheduled for July 2020.
Overview of Residential Tenancy Bill
This publication gives an overview of the Residential Tenancy Bill that the Maldivian Government has submitted to the People’s Majlis on 6 December 2019.
COVID-19: Revised Deadlines for Taxes and Fees
This advisory provides an overview of the announcements by MIRA and other government authorities with respect to the new deadlines for filing and making payment of taxes and fees.
MIRA does not have legal authority take legal action for non-tax payments: Supreme Court
In the case of Moosa Nasser v MIRA (2014/SC-A/41), the Supreme Court of Maldives on 22 June 2020, unanimously decided against the Maldives Inland Revenue Authority and held that MIRA does not have the legal authority to sue for lease rent due to the state.
Calculating your interim payment for 2020
Income Tax Act has special rules on calculation of interim payment where a taxpayer estimates the tax liability of this year to be lower than that of the previous year. This article explains how these rules can be applied in practice.
TAT Publishes Rules on Remote Hearings
On 15 June 2020, the Tax Appeal Tribunal has published rules on how the Tribunal will carry on with online proceedings and other matter pertinent to the Tribunal’s process.
Tax Alert, 18 June 2020
This issue is focused on the Transfer Pricing Regulation (Regulation Number 2020/R-43) published by the Maldives Inland Revenue Authority (MIRA) on 10 June 2020.
Company Annual Fee for 2020 Payment Deferred
The Ministry of Economic Development, on 17 June 2020, announced that the payment date for company annual fees for 2020 has been deferred and that late payment fines will not be imposed.
Government announces that TGST payments can be made in Rufiyaa
Ministry of Finance announced that Tourism GST payments for taxable periods beginning from 1 April 2020 to 30 September 2020 can be made in Rufiyaa.