Changes in the Requirements of Directors Report by Economic Ministry

The Ministry of Economic Development on 5 June 2017 published a guideline that sets out the requisite information to be included in the Directors...

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...
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Sirru Fenfushi to open at Shaviyani Gaakoshibee in December 2017

Sirru Fenfushi, the ultra-luxury resort developed in Shaviyani Gaakoshibee is all set to open in December 2017. SC Capital Partners Group, a Singapore-based institutional real...

Martin Vossen to become the new CEO of Crown and Champa Resorts

Crown and Champa Resorts has appointed Mr Martin Vossen as the new Chief Executive Officer of the company. Mr Vossen will be succeeding current CEO...

A Malaysian company approaches “Mahaa Jarraafu” for land reclamation

"Mahaa Jarraafu", Maldives Transport and Contracting Company's (MTCC) colossal hopper suction dredger which is expected to reach Maldivian ports by October 25, has been...