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.
Hong Kong and the Maldives signed a Double Tax Avoidance Agreement on 26 May 2025. The agreement clarifies tax allocation between the two countries and includes provisions for information exchange and cooperation to combat tax evasion.
On 16 March 2025, the MIRA issued an Income Tax Guide on Director’s Current Account Debit Balances, providing clarification on the tax treatment of financial transactions between companies and their directors.
The overview on the Maldives-UAE Double Tax Agreement will examine the key provisions of the DTA and the implications it has for businesses seeking to benefit from the treaty.
The 15th Amendment to the Maldives Tourism Act was ratified on 19 March 2025 introduces key changes to resort lease extension fees, compliance codes, advertising standards, and property closure procedures for redevelopment.
The Maldives Inland Revenue Authority has published the draft of the Sixth Amendment to the Income Tax Regulation for public consultation. This Amendment introduces several key changes that could significantly affect businesses operating in the Maldives.