Tax Alert, 20 APRIL 2017
This issue covers the following: 1. Tax Ruling B59, which explains that some amendments to the BPT Regulation brought via Tax Ruling B56 on 17…
Entries by Husam Shareef
Civil Court has Jurisdiction to Enforce Arbitral Award
The Maldives High Court, on 20 April 2017, quashed the Civil Court’s decision that the Civil Court can only proceed with enforcement of the arbitral…
Tax Alert, 15 FEBRUARY 2017
This issue covers the following developments: 1. Eleventh amendment to the BPT Regulation which changes to several rules on the accounting basis, capital allowance and…
MIRA v Travel Land Maldives Pvt Ltd
The High Court of Maldives has, on 3 October 2013, held that a “decision made by the MIRA” appealable to the TAT pursuant to Section…
BPT Return Exemption for Individuals and Deemed Partnerships
The Maldives Inland Revenue Authority has amended the Business Profit Tax Regulation exempting registered individuals and deemed partnerships who fulfill certain conditions from submitting a…
Micro Businesses Not Required to Submit Auditor’s Report
The Maldives Inland Revenue Authority has brought an amendment to the Business Profit Tax Regulation exempting micro businesses from submitting an auditor’s report with their…
Goods Imported on Behalf of a Third Party Subject to GST
The MIRA has published a circular concerning the GST implications for businesses that import goods on behalf of a third party. The circular reminds GST…
Agoda payments now subject to WHT
Maldives Inland Revenue Authority has issued a circular instructing taxpayers to pay withholding tax on payments made to all online travel agencies (OTAs), regardless of…
Guide on Managing Tax Audits
Tax audits conducted by the Maldives Inland Revenue Authority (MIRA) loom over virtually every business operating in the Maldives. The Examination of your accounts and…
High Court Confirms TAT Ruling on Third Party Payments
The High Court of Maldives has upheld the Tax Appeal Tribunal’s decision on a case which focused on the subjectivity of withholding tax on payments…