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…
On 3 August 2020, the 4th Amendment to the Tourism Land Rent Regulation was published, bringing about a significant reduction to the late payment fine charged with respect to tourism land rent.
On 15 July 2020, the Supreme Court of Maldives gave its judgment in the case of Abdul Majeed v Male' City Council, which originated from a contractual dispute over a plot of land for which the Appellant submitted the winning bid. The Court agreed with the High Court's decision that the land plot is not required to be handed over to the Appellant as a contract has not formed between the parties.
On 23 July 2020, the 17th Amendment to the Maldives Import Export Act was published, introducing important changes to the Maldives import export regime.
The webinar is aimed at helping legal and accounting practitioners as well as students looking to improve their understanding of tax law with a business and practical perspective. It will be held on 20 September 2020, at 9:00 pm.
Maldives Inland Revenue Authority (‘MIRA’) on 20 July 2020, published the First Amendment to the Income Tax Regulation.
On 15 July 2020, the Supreme Court of Maldives gave its judgment in the case of Guleyfa Mohamed v Adam Haleem, which originated from a residential tenancy dispute involving non-payment of rent. The Court agreed with the lower court's decision not to award compensatory damages.
CTL Strategies has been selected by asialaw as one of the shortlisted candidates for Maldives Firm of the Year for the asialaw Awards 2020.
This publication gives an overview of the Bill on the Eighth Amendment to the Employment Act that the Maldivian Government has submitted to the People’s Majlis.
On 6 July 2020, the Maldives High Court gave its judgment in the appeal filed by Hilton International Manage (Maldives) Pvt Ltd against Sun Travel and Tours Pvt Ltd. The Court struck down the Civil Court’s decision to award damages to Sun Travel & Tours.
This article explains the interest limitation rules under the Maldives Income Tax Act, with specific focus on thin capitalisation rules, 6% rate cap, and transfer pricing.