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…

Agoda payments now subject to WHT

Maldives Inland Revenue Authority has issued a circular instructing taxpayers to pay withholding tax on payments made to all online travel agencies (OTAs), regardless of the arrangement agreed with the OTAs. As per the circular, the new rule comes into…

Guide on Managing Tax Audits

Tax audits conducted by the Maldives Inland Revenue Authority (MIRA) loom over virtually every business operating in the Maldives. The Examination of your accounts and financial affairs tends to be a time-consuming and arduous process which may remove…

Tax Ruling issued on the GST treatment of imported goods

A Tax Ruling has been issued by the Maldives Inland Revenue Authority (MIRA) on 8 August 2016 clarifying the GST treatment of imported goods. The Ruling explains the GST treatment when goods are imported to Maldives under an import license (regardless…

MIRA to introduce Advance Pricing Agreements

The Maldives Inland Revenue Authority (MIRA) has announced that Advance Pricing Agreements (APAs) between taxpayers and MIRA will be introduced this year. This announcement was made by the Commissioner General of Taxation in his speech at the function…

COURSE ON ACCOUNTING AND FINANCE FOR LAWYERS & MANAGERS

The Maldives Law Institute in association with CTL Consulting is organising a course on "Accounting and Finance for Lawyers and Managers" and will be held from March 27 ‐ 31, 2016. The course will provide a technical and conceptual foundation in…

COURSE ON ACCOUNTING AND FINANCE FOR LAWYERS

The Maldives Law Institute in association with CTL Consulting is organising a course on "Accounting and Finance for Lawyers" and will be held from November 15 ‐ 19, 2015. The course will provide a technical and conceptual foundation in financial…

NO GROUNDS FOR REPEALING SECTION 44 OF TAA: HC

The High Court of the Maldives has ruled that the section 44 of the Law Number 3/2010 (Tax Administration Act) does not contravene Article 40(a) and 56 of the Constitution of the Maldives. This ruling was made following an application by a taxpayer to…

Tax disputes & controversies

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