Small Businesses required to submit GST return online

The Maldives Inland Revenue Authority has published a ruling on 5 June 2017 which makes it mandatory for certain businesses to submit their General...

CMDA Issues Custodian License to Bank of Mauritius

Capital Market Development Authority (CMDA) has issued a license to provide custodial services to Mauritius Commercial Bank Maldives Private Limited (MCB) today. The license was...

384 Dormant Accounts at Bank of Ceylon Announced, Funds to be transferred to MMA...

Bank of Ceylon has identified and announced 384 accounts which have had no activity for the past 5 years, to be closed and all...

Economic Ministry Winding Up over 6000 Companies

The Ministry of Economic Development has released a list of 6349 companies for winding up, for neglecting to pay the annual fees before the...

Tourism Ministry Terminates 116 Travel Agency Permits

Ministry of Tourism has terminated the permits of 116 different travel agencies due to failure to submit their 2016 annual report. The Ministry released an...

Scheduled Times Announced for Delivery of Water and Gas

Transport Authority of Maldives has announced specified times during the day to deliver water, gas and other goods of the same type, effective from...

Tourism Ministry Reinforces Mandate for Monthly Statistics Submissions

The Ministry of Tourism has released a circular announcing that Guesthouses and Safari Operators who fail to submit monthly statistics reports will be penalized...

BPT Return Exemption for Individuals and Deemed Partnerships

The Maldives Inland Revenue Authority has amended the Business Profit Tax Regulation exempting registered individuals and deemed partnerships who fulfill certain conditions from submitting...

Micro Businesses Not Required to Submit Auditor’s Report

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...

Goods Imported on Behalf of a Third Party Subject to GST

The MIRA has published a circular concerning the GST implications for businesses that import goods on behalf of a third party. The circular reminds...
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Investment program is on track – BML CEO

Following a year in which Bank of Maldives recorded its best ever financial performance, CEO Andrew Healy has emphasized that the Bank is keeping...

Bank of Maldives shareholders to receive record dividend

Bank of Maldives has confirmed that its shareholders will receive a record dividend for the fourth consecutive year. Shareholders voted to approve the proposed...

Thailand’s Minor Hotels Group Signs First Avani Resort in Maldives

AVANI Hotels & Resorts has announce the development of its first resort in the Maldives. AVANI Fares Maldives Resort will be located on Fares...