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 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...
CTL Strategies Conducts Seminar on Withholding Tax for Tourism Professionals
A seminar on “Contemporary Issues on Withholding Tax in the Tourism Industry” was conducted by CTL Strategies on 12 August 2017.
The seminar held at...
High Court Confirms TAT Ruling on Third Party Payments
The High Court of Maldives has upheld the Tax Appeal Tribunal's decision on a case which focused on the subjectivity of withholding tax on...
Collected revenue until end of May is MVR 1.14 billion
MIRA has collected MVR 1.14 billion as revenue in May 2016. This amount is 19.6% more than the amount collected in May 2015. Also...
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...
More than 23,000 Businesses Registered: Economic Ministry
So far 23,626 businesses in Maldives have registered with the Ministry of Economic Development, the Ministry has said.
Speaking at a press briefing held at...
MIRA to introduce Advance Pricing Agreements
The Maldives Inland Revenue Authority (MIRA) has announced that Advance Pricing Agreements (APAs) between taxpayers and MIRA will be introduced this year. This announcement...
MIRA to collect Green Tax from Guesthouses starting 1st October 2016
Guesthouses will be charged Green Tax on tourists for each day of their stay starting from 1 October 2016, under the eighth amendment to...
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...
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...
MMA publishes a regulation on fees & charges payable by financial institutions
Maldives Monetary Authority has published a regulation on fees & charges payable by financial institutions. This Regulation is issued pursuant to Section 37 and 38...
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...
Over 3000 businesses registered for tax last year
Maldives Inland Revenue Authority (MIRA) has revealed that over 3000 new businesses had been registered just last year in the tax registry. The annual...
Online filing mandatory for taxpayers filing TGST and WHT returns
The MIRA, on Monday, has issued a Tax Ruling, making online filing mandatory for all taxpayers filing Tourism Goods and Services Tax and Withholding...
Remittance tax on expatriates to be introduced
The President, on Thursday has ratified a bill that imposes a remittance tax of 3% on the money transferred abroad by expatriate workers, effective...
Maldives Welcomes Over 7,000 Tourists Daily
The Maldives is enjoying a significant resurgence in tourism, with the Ministry of Tourism reporting an average of over 7,000 tourists visiting...
Maldives becoming a hub for Islamic Banking & Halal industry in South Asian region
Mostly people know about Maldives as an idyllic tropical island holiday destination, but little is known about the fact that the country is making...
CTL Strategies starts publishing “Tax Alert”
Leading tax advisory firm, CTL Strategies has started a new publication called ‘Tax Alert’. This is part of their ongoing effort to keep public...
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...
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...
Gov’t to Explore Chinese Trade in Rufiyaa, Aims to Reduce Dollar Reliance
Minister of Economic Development and Trade, Mohamed Saeed, disclosed that China is poised to enable payments for goods in Maldivian Rufiyaa (MVR).
Gov’t Reports Progress in Stabilizing Dollar Exchange Rate
Mohamed Saeed, Maldives' Minister of Economic Development and Trade, has announced progress in stabilizing the nation's dollar exchange rate. Minister Saeed attributes...
Tax Ruling issued by MIRA on the GST treatment of imported goods
A Tax Ruling has been issued by the Maldives Inland Revenue Authority (MIRA) on 8 August 2016 clarifying the GST treatment of imported goods....