Cash Declaration Limit Changed

The Maldives Monetary Authority, on 17 January 2019, published the first amendment to the Regulation on Cross Border Currency Declaration Amount. The changes introduced now require passengers travelling with USD 20,000 or more, and are travelling…

Overview of the Maldives-UAE DTA

This overview provides a brief analysis of the Maldives-UAE DTA. The key provisions of the DTA will be looked at, including the implications it has on enterprises attempting to make use of the treaty.

Maldives Bay Pvt Ltd v MIRA [2023] SC 12

A dispute arose between Maldives Bay Pvt Ltd and MIRA with regards to the applicable rate of GST to the supply of certain capital assets (which included sand barges and fire pumps) by Maldives Bay to Sanctuary Sands Maldives Pvt Ltd - the owner of the tourist resort.

Year in Review 2022

Our "Year in Review 2020" provides brief summaries of the key legal and tax developments through the year 2020, as the Maldives navigated its way through the COVID-19 pandemic. Some of the issues have also been addressed to in blog posts by our lawyers and tax advisors, and in a variety of our publications.

Mohamed Yasir v Ibrahim Hassan [2023] SC 02

A case which provided further clarity to the principle of restitution for unjust enrichment under the law of equity. The Court further listed the conditions to be fulfilled in order to establish that a party has, in fact, gained an unjust enrichment.

Guidance on GST Rate Change

This Advisory guides you through any transitional issues that you may be facing with respect to the application of the correct GST rate - especially for transactions that straddle the effective date of rate change.

Tax Alert, 24 November 2022

This issue is focused on the Sixth Amendment to the GST Act (Law Number 20/2022). The major change introduced via the Amendment is the change in GST rates that is to come into effect from 1 January 2023.