The 2nd Amendment to the Salary Enforcement Regulation, published on 13 July 2017, changes the fine enforcement date to 1 January 2018. The Amendment amends, Section 7(e) to change the fine enforcement date from 1 July 2017 to 1 January 2018. It also…

The Ministry of Economic Development on 5 June 2017 published a guideline that sets out the requisite information to be included in the Directors Report of Private Companies incorporated under the Companies Act of the Maldives. Prior to this guideline,…

CTL Strategies LLP  is conducting a seminar on contemporary Withholding Tax issues faced by businesses operating in the tourism sector. The seminar is currently scheduled to be held on the 12 August 2017 and will be held in Male’. The seminar, which…

The Maldives Inland Revenue Authority has published Ruling B61 on 29 May 2017 which amends Section 11 of the Business Profit Tax Regulation. The amended Section 11(b)(1) of the BPT Regulation stipulates that the date on which a person or persons, appointed…

On 23 April 2017, the Construction Act was published in the Maldives gazette, which sets out the standards and parameters to be followed by all actors in the industry. The Act gives the Minister – responsible for enforcement of construction sector…

The Ministry of Tourism, on 26 April 2017, published the 2nd Amendment to Regulation Number 2010/R-14 (Grant of Rights – land and islands leased for tourism purposes) which amends Section 29 of the regulation. The section concerns debt clearance of…

The Maldives High Court, on 20 April 2017, quashed the Civil Court’s decision that the Civil Court can only proceed with enforcement of the arbitral award after the High Court makes a decision regarding the award. The initial case, which was filed…

The Maldives Inland Revenue Authority has brought an amendment to the Business Profit Tax Regulation exempting micro businesses from submitting an auditor’s report with their BPT Return. Pursuant to Tax Ruling B-57, a micro business, which is categorically…