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…
This issue is focused on the Sixth Amendment to the GST Act (Law Number 20/2022). The major change introduced via the Amendment is the change in GST rates that is to come into effect from 1 January 2023.
With the purpose of reducing the negative environmental impacts caused by plastic waste, the Waste Management Bill proposes a tax equivalent to MVR 2 to be collected from plastic bags at points of sale. Our overview provides a summary of the proposed mechanism on the collection and administration of this tax.
This Advisory summarises the key aspects of the Fourth Amendment to the Income Tax Regulation gazetted by the Maldives Inland Revenue Authority on 17 May 2022.
This publication gives an overview of the Pay As You Earn (PAYE) system under the Income Tax Act which imposes Employee Withholding Tax from 1 April 2020.
This Overview covers the key areas of the Tourism Land Rent Regulation which was published in the Government Gazette on 27 February 2022
This Advisory summarises the key aspects of the recent enforcement policies published by the MIRA.
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.