Latest

Blog

Basic Tax and Legal Considerations When Buying a Business

by Ali Naeem, Counsel Buying or selling a business is a complex transaction with many tax and legal variables to consider before you start negotiations and close the deal. Although the purchase terms are not solely driven by tax considerations, it…

Filing Tax Appeals and Objections: Important Considerations

by Ali Naeem, Counsel The Tax Administration Act (TAA) lays out specific procedures to go about when you disagree with a decision made by the Maldives Inland Revenue Authority. The decisions that affect your business or tax liability are twofold -…

Implications of Tax Ruling B65 on Lawyers

by Ali Naeem, Partner   It is an often debated issue whether freelance lawyers, advisors or consultants who work for law firms should be considered as carrying out a “business” as defined in the Business Profit Tax Act. The answer to this…

The Maze of Withholding Tax

by Husam Shareef, Tax Advisor As you may notice from the heading, the rules on payment of Withholding Tax (WHT) have become rather complex - creating a maze that you need to carefully navigate. Finding out about compliance issues during a tax audit…

Calculating GST & WHT on OTA commissions

by Madeeh Ahmed, Tax Advisor Note: Rules on the imposition of WHT on OTA commission have been changed via the amendments brought to the BPT Regulation after this blog post was published. We advise you not to rely simply on the information provided…