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…
Tourism Ministry Introduces Share Transfer Fee and Increases Lease Transfer Fee Under Grant of Rights Regulation
The Ministry of Tourism, on 31 October 2017, published the 4th Amendment to Regulation Number 2010/R-14 (Grant of Rights – land and islands leased for tourism purposes) which, by effect of the Amendment, transfers fee impositions from Regulation Number…
New Ruling Changes Complimentary Services Rules
The Maldives Inland Revenue Authority has published a Tax Ruling (Number TR-2017/G43) on 9 October 2017 which amends Section 54 of the Goods and Services Tax Regulation to allow complimentary supplies without any imposition of GST for a period of 7 days.
Prior…
High Court Rules Laamu Asseyri Project Contract Void
The High Court, on 4 October 2017, struck down the lower court’s decision to enforce a contract between J Hotels and Resorts Private Limited and the State.
In the case decided by the Civil Court in favor of J Resorts, it was held that there was in…
CTL Strategies Concludes Second Annual Corporate Retreat
CTL Strategies has concluded their second annual corporate retreat on 1st October 2017.
The 4-day corporate retreat of CTL strategies was held on Fulhadhoo island, which lies on the outer rim of Baa Atoll – well known for its wealth of unique sea-life…
CTL Strategies Appointed as Gold 100 Evaluators
CTL Strategies LLP has been appointed as the evaluators of Gold 100, 2017.
Gold 100, which is a feature on the leading business enterprises in Maldives and published in Corporate Maldives - a premium business and hospitality magazine - undergoes a…
Mandatory General GST Registration for Tourism GST Registrants
The Maldives Inland Revenue Authority has published Ruling G42 on 7 September 2017 which amends Section 11 of the Goods and Services Tax Regulation.
The amended Section 11 requires persons who are already registered for Tourism GST to register for…
Surcharges Not in Purview of Tax Rules Supreme Court
by Fathuhulla Ismail, Counsel
Supreme Court of the Maldives on 20 March 2017 has decided ADK Trade and Shipping Pvt Ltd v State (Maldives Customs Services), its case number 2015/SC-A/10.
The case decided the effect and application of…
Apex Court Upholds Prospective Application of Law in Civil Matters
by Fathuhulla Ismail, Counsel
The Elections Commission of the Maldives filed a case with the Supreme Court against Fareedha Umar, a candidate of Jumhooree Party for the Local Council Elections, seeking to annul her candidacy.
The subject…
Land Sale Regulation Grants the Minister Power to Set Minimum Tax
The Ministry of Housing and Infrastructure, on 15 August 2017, published the 2nd Amendment to the "Regulation on Privatising and the Sale and Purchase of Land 2008" which changes the composition of the committee created under Section 10 and, allows the…
CTL Strategies Conducts Seminar on WHT for Tourism Professionals
A seminar on "Contemporary Issues on Withholding Tax in the Tourism Industry" was conducted by CTL Strategies on 12 August 2017.
The seminar held at hotel Jen was attended by CFO's and accounting executives from several 5 star and 6 star tourist establishments.
The…