This article explains the interest limitation rules under the Maldives Income Tax Act, with specific focus on thin capitalisation rules, 6% rate cap, and transfer pricing.
This article provides an overview of some of the tax measures undertaken by tax authorities globally and attempts to present a comparative analysis of these tax measures with the Maldivian tax system.
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.
From 1 January 2020 onwards, with the commencement of the Income Tax Act (ITA), land sales tax has been repealed and sale of properties will continue to be taxed under the Capital Gains Tax regime under the ITA.