Posts
MIRA Calls Upon Taxpayers That Do Not Meet Registration Requirements to Deregister
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…
Cash Declaration Limit Changed
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…
The Ministry of Finance Issues a Circular on Deferment of Land Rent
The Ministry of Finance, on 28 June 2020, issued a Circular with details in implementing the deferment of land lease announced by the President during his public address on 20 May 2020. As per the Circular, resort land rent payments for the third and fourth quarter of 2020 has been deferred until 1 June 2021. Land rent payments other than resort land rent, that fall within the period 1 June 2020 to 31 December 2020 has also been deferred until 1 June 2021.
COVID-19: Tax Measures from Other Countries for Consideration
This article provides an overview of some of the tax measures undertaken by tax authorities globally and attempts to present a comparative analysis of these tax measures with the Maldivian tax system.
Tourism Ministry publishes procedures to be followed by Tourist Facilities operating in the new normal
The Ministry of Tourism, on 23 June 2020, published the Guideline for Restarting Tourism in Maldives which specifies the minimum standards to be met by registered tourist facilities by the tentative opening dates scheduled for July 2020.
COVID-19: Revised Deadlines for Taxes and Fees
This advisory provides an overview of the announcements by MIRA and other government authorities with respect to the new deadlines for filing and making payment of taxes and fees.
MIRA does not have legal authority take legal action for non-tax payments: Supreme Court
In the case of Moosa Nasser v MIRA (2014/SC-A/41), the Supreme Court of Maldives on 22 June 2020, unanimously decided against the Maldives Inland Revenue Authority and held that MIRA does not have the legal authority to sue for lease rent due to the state.
Calculating your interim payment for 2020
Income Tax Act has special rules on calculation of interim payment where a taxpayer estimates the tax liability of this year to be lower than that of the previous year. This article explains how these rules can be applied in practice.
TAT Publishes Rules on Remote Hearings
On 15 June 2020, the Tax Appeal Tribunal has published rules on how the Tribunal will carry on with online proceedings and other matter pertinent to the Tribunal's process.
Company Annual Fee for 2020 Payment Deferred
The Ministry of Economic Development, on 17 June 2020, announced that the payment date for company annual fees for 2020 has been deferred and that late payment fines will not be imposed.
Government announces that TGST payments can be made in Rufiyaa
Ministry of Finance announced that Tourism GST payments for taxable periods beginning from 1 April 2020 to 30 September 2020 can be made in Rufiyaa.
New Tax Payment Deadlines Announced
The MIRA announced, on 15 June 2020, the commencement of services of the Taxpayer Service Centre from 5 July onwards, and new deadlines for filing tax returns and payment of taxes, and other fees and charges.