MIRA Calls Upon Taxpayers That Do Not Meet Registration Requirements to Deregister
The MIRA has issued announcements requesting taxpayers who do not fulfil tax registration requirements under the Tax Administration Act, or GST registration requirements to deregister from tax.
The announcement, issued on 16 January 2019, reminds…
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…
COVID-19: An opportune to introduce Unemployment Benefit Schemes?
This write-up explores the factors useful to consider in providing unemployment benefits, challenges that may come across and the approaches in practice in other jurisdictions.
COVID-19 FAQs: Employment Matters
Here we provide answers to some of the important Frequently Asked Question on the rights employees may have in dire situations like the current COVID-19 pandemic situation.
COVID-19 FAQs: Taxes & Fees
Here we provide answers to some of the questions questions with respect to your tax affairs and how the COVID-19 pandemic would have an impact on you as a taxpayer.
COVID-19: Workforce Restructuring
by Rafa Rasheed
Prelude
In connection with the COVID-19 pandemic, many businesses are considering, or have already reduced their workforce due to the interruption of business operations as a result of measures implemented by the government or due…
President Ratifies amendment to Anti-Human Trafficking Act
President Solih, on 29 March 2020, ratified the first amendment to the Maldives Anti-Human Trafficking Act.
The amendment brings changes to section 60(b) of the Act - composition of the National Anti-Human Trafficking Steering Committee. Prior to…
Government Introduces Stimulus Package to Aid Businesses
President Ibrahim Solih addressed the nation and the concerns of the citizens regarding the COVID-19 pandemic and its effects upon the nation. The President’s speech addressed many concerns which have been shared by citizens and enterprises operating…
COVID-19 - A Reason to Discharge Contractual Obligations?
by Mariyam Naufa
With the onset of the global public health emergency of coronavirus (COVID-19), supply chains continue to be disrupted and consumer spending has plummeted to unprecedented levels. As a result, businesses are looking…
New Income Tax Regulation published
Income Tax Regulation (Number 2020/R-21) has been published in the Government Gazette on 10 March 2020. With this, the previous Income Tax Regulation (Regulation Number 2019/R-1090) published by the MIRA on 31 December 2019 has now been repealed.
Some…
Salary Board Recommends Minimum Wage to Minister
The Salary and Remuneration Advisory Board, on 20 February 2020, published a report on recommendations to the Minister of Economic Development on setting the National Minimum Wage.
Based on studies conducted which focused on two approaches – the…
Seminar on Income Tax in Practice
CTL Strategies is conducting a full day seminar on Income Tax in Practice. The seven and a half hour seminar is designed to give participants an overview of the new Income Tax regime and will cover new concepts introduced under the Act as well as important…