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: Tax Considerations for Individuals & Businesses

As the COVID-19 pandemic continues, businesses and individuals will inevitably undergo its unprecedented impacts. With this in perspective, this post will present to you the tax concessions and options that are currently available to taxpayers in the Maldives.

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.

Judicial Impeachment: Some Reflections and the Maldivian Context

by Nazahath Ahmed, Associate The Independence of the Judiciary is integral to the separation of powers and rule of law. The concept is set out in the International Bar Association’s Minimum Standards of Judicial Independence (1982) and in the Basic…

BPT Treatment of Director's Remuneration

by Madeeh Ahmed, Senior Tax Advisor The MIRA recently issued a tax ruling (TR-2019/B69 issued on 21 March 2019) which has changed its position on how director's remuneration is treated under the BPT Act in the hands of the recipient, and what constitutes…

Disputing a Tax Assessment

by Ali Naeem, Counsel The main concern of any business these days is whether it has fully complied with the tax laws.  Consequences of non-compliance can cost a lot in terms of money and other productive resources of the business. This is why…