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…

Tax Alert, 2 July 2020

This issue is focused on the Twenty Sixth Amendment to the GST Regulation published by the MIRA on 26 June 2020. The Amendment introduces several notable changes to the GST Regulation, including a definition for the term ‘charter’ of a vessel and special rules for determining charter arrangements.

Brief on Guideline for Restarting Tourism in the Maldives

This is a brief of the Guideline for Restarting Tourism in Maldives, published by the Ministry of Tourism, in consultation with health professionals and industry stakeholders. It outlines the measures that need to be followed to ensure the safety of tourists and residents.

The Ministry of Finance Issues a Circular on Deferment of Land Rent

The Ministry of Finance, on 28 June 2020, issued a Circular with details in implementing the deferment of land lease announced by the President during his public address on 20 May 2020. As per the Circular, resort land rent payments for the third and fourth quarter of 2020 has been deferred until 1 June 2021. Land rent payments other than resort land rent, that fall within the period 1 June 2020 to 31 December 2020 has also been deferred until 1 June 2021.

MIRA publishes Twenty Sixth Amendment to GST Regulation

Maldives Inland Revenue Authority (‘MIRA’) on 26 June 2020, published the Twenty-Sixth Amendment to the Goods and Services Tax Regulation. The Amendment introduces several notable changes to the GST Regulation, including a definition for the term ‘charter’ of a vessel and special rules for determining charter arrangements.

Overview of Residential Tenancy Bill

This publication gives an overview of the Residential Tenancy Bill that the Maldivian Government has submitted to the People’s Majlis on 6 December 2019.

COVID-19: Revised Deadlines for Taxes and Fees

This advisory provides an overview of the announcements by MIRA and other government authorities with respect to the new deadlines for filing and making payment of taxes and fees.