MIRA has published the 32nd Amendment to the GST Regulation, setting out the practical GST rules for the new offshore inbound tourism products regime including rules on registration, the margin-based GST calculation, input tax restrictions, invoicing and price display, return filing, record keeping, adjustments and transitional rules.
The Sixth Amendment to the Income Tax Regulation introduces a number of important changes to the income tax framework, affecting the tax treatment of leases, capital allowances, functional currency, accounting and filing requirements, employer-provided staff accommodation and certain registration and compliance obligations.
The Eighth Amendment to the GST Act introduces a new GST framework for offshore suppliers of inbound tourism products, including foreign tour operators, online travel agencies and booking platforms.
The Eighth Amendment to the GST Act was ratified and published in the Government Gazette on 31 August 2026. The Amendment introduces new GST rules for offshore suppliers of Maldives inbound tourism products, revised place of supply rules, revised definitions of goods and services, and broader tourism sector provisions.
The First Amendment to the Foreign Currency Act has been ratified into law on 31 August 2026, and is set to come into effect on 1 September 2026. It makes significant changes to the statutory framework governing foreign currency in the Maldives including mandatory conversion rate for Category A Tourism Establishments and high-income entities from 20% to 40% of monthly gross sales.
On 16 August 2026, the Government submitted to the People’s Majlis the Bill on Second Amendment to the Income Tax Act. The proposed amendment introduces significant changes to the taxation of non-resident contractor payments, including an increased non-resident withholding tax rate, an expanded definition and mandatory gross-basis taxation for non-resident contractors.
The First Amendment to the Special Economic Zones Act was ratified on 10 November 2025, introducing noteworthy tax implications for SEZ developers and investors including introduction of a new property transfer tax on strata title transactions.
On 4 August 2025, the Ministry of Tourism and Environment gazetted the Regulation on the Advertising of Establishments that Provide Services to Tourists in the Maldives, which took effect immediately. The Regulation expands on the new advertising rules that were introduced under the 15th Amendment to the Maldives Tourism Act.
On 4 August 2025, the Ministry of Tourism and Environment gazetted the Regulation on the Advertising of Establishments that Provide Services to Tourists in the Maldives, which took effect immediately. The Regulation expands on the new advertising rules that were introduced under the 15th Amendment to the Maldives Tourism Act.
On 25 March 2025, MIRA published the 2nd Amendment to the Instalment Policy, which addresses the requirements for entering into multiple installment agreements and implements stricter rules for installment plans related to taxes assessed during investigations.