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…
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…
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.
On 15 June 2020, the Tax Appeal Tribunal has published rules on how the Tribunal will carry on with online proceedings and other matter pertinent to the Tribunal's process.
This issue is focused on the Transfer Pricing Regulation (Regulation Number 2020/R-43) published by the Maldives Inland Revenue Authority (MIRA) on 10 June 2020.
The Ministry of Economic Development, on 17 June 2020, announced that the payment date for company annual fees for 2020 has been deferred and that late payment fines will not be imposed.
Ministry of Finance announced that Tourism GST payments for taxable periods beginning from 1 April 2020 to 30 September 2020 can be made in Rufiyaa.
The MIRA announced, on 15 June 2020, the commencement of services of the Taxpayer Service Centre from 5 July onwards, and new deadlines for filing tax returns and payment of taxes, and other fees and charges.
From 1 January 2020 onwards, with the commencement of the Income Tax Act (ITA), land sales tax has been repealed and sale of properties will continue to be taxed under the Capital Gains Tax regime under the ITA.
The Regulation governs and implements the requirements on transfer pricing imposed under Section 68 of the Income Tax Act (Law Number 25/2019).
This publication gives an overview of the Public Health Emergency Bill 2020 submitted to the People's Majlis on 29 May 2020.
This advisory provides an overview of the key parts of the guidance document on the Income Support Allowance Scheme published by the President's Office.