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Implications of Tax Ruling B65 on Lawyers

by Ali Naeem, Partner   It is an often debated issue whether freelance lawyers, advisors or consultants who work for law firms should be considered as carrying out a “business” as defined in the Business Profit Tax Act. The answer to this…

Seminar on Tax Audits and Appeals

CTL Strategies is conducting a full day seminar on Tax Audits and Appeals. The six-hour seminar is designed to give participants an in-depth understanding of the audit process, including the steps leading up to the audit process, such as some considerations…

Top Court Rules in Favor of Villa in Lease Termination Case

On 18 April 2018, the Supreme Court of Maldives decided in favor of Villa Shipping and Trading Company Private Limited and several companies related to Villa, following a prolonged dispute originating in 2015 regarding the lease of tourism islands. The…

Major Changes to Framework of MIRA Registered Auditors

The Maldives Inland Revenue Authority (“MIRA”), on 5 April 2018 published Tax Ruling B-63 (Submission of Financial Statements and Appointment of Auditors) which supersedes Ruling B-57 and changes some requirements for auditor registration and renewal…

Year in Review 2017

This edition of Year in Review focuses on the major changes in tax rules and important regulatory changes in 2017 that impacts businesses in the Maldives. You can refer to our publications on the same rulings or changes to find out more information regarding…

CTL Conducts Webinar on Recent Tax Rulings

A web-based seminar on "Recent Developments on GST and WHT" was held by CTL Strategies on 10 February 2018, which focused on some important changes to the Goods and Services Tax regime and Withholding Tax regime. The first of it's kind conducted by a…