Advance Pricing Arrangement Regulation Published

The Third Amendment to the Tax Administration Regulation, granted the Maldives Inland Revenue Authority (“MIRA”) the right to enter into Advance Pricing Arrangements (“APA”) with taxpayers.

FREE Webinar on Service Charge

The webinar is targeted at employer, human resources personnel, and accountants in the tourism sector. The duration of the webinar is expected to be 1 houe. It will take place on 3 April 2020 at 3:00 pm.

Country-by-Country Reporting Regulation Published

With the Third Amendment to the Tax Administration Act, the Maldives Inland Revenue Authority (‘MIRA’) was granted the authority to regulate the submission of Country-by-Country Reports (CbCR) to the MIRA.

Regulation on Pensionable Wage Published

The Regulation on Pensionable Wage was gazetted on 25 February 2021. The primary objective of the Regulation is to provide for the requirements related to Pensionable Wage for the purposes of calculating contributions to Maldives Retirement Pension Scheme (MRPS).

Travel Agency Regulation

On 25 February 2021, the Travel Agency Regulation was gazetted, replacing the regulation that was in place since 2006. The new regulation introduces new rules for both foreign and local tour agencies.