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…

Enforcement Policies of MIRA

This Advisory summarises the key aspects of the recent enforcement policies published by the MIRA.

Third Amendment to the Income Tax Regulation

This Advisory summarises the key aspects of the Third Amendment to the Income Tax Regulation gazetted by the Maldives Inland Revenue Authority on 19 October 2021.

Regulation on Payment Services

The Regulation details the regulatory framework for the licensing and operation of payment services. while also introducing role and responsibilities of custodian banks.

National Payment System Act

The National Payment System Act which regulates the operation of payments systems, clearing systems, settlement systems and payment services.