MED outsources Business Registration Services
The Ministry of Economic Development has partnered with 9 private sector parties, to outsource several services it offers to businesses; including registration of companies,...
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...
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...
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...
CTL Strategies LLP – Tax Advisory Services Specialists in the Maldives
CTL Strategies LLP is a firm specialised in providing tax and legal advisory services to businesses. CTL Strategies offers a comprehensive range of tax and legal advisory...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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....
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).
New ruling by MIRA changes complimentary services rule
The Maldives Inland Revenue Authority has published a Tax Ruling (Number TR-2017/G42) on 9 October 2017 which amends Section 54 of the Goods and...
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...
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...
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...
LATEST ARTICLES
TGST Hike Comes into Effect: Tourism Sector Now Subject to 17% Rate
The Tourism Goods and Services Tax (TGST) in the Maldives has officially increased from 16 percent to 17 percent as of today,...
Diversifying Dollar Access: MIB’s Untapped Potential to Serve Maldivians
For years, the Bank of Maldives (BML) has carried the burden of being the country’s primary source of US dollar services for...
Maldives Signs Investment Residency Deal: What It Means for the Economy
The Government of Maldives has signed an agreement with global investment migration firm Henley & Partners to establish the country’s first-ever residence...
Solar City, Residence by Investment Programme Among Key Deals at Business Forum
The Maldives–Singapore Business Forum 2025, held at Capella Singapore, brought together over 200 delegates, including high-ranking government officials, international investors, and leading...
PCB Appoints Directors to Support State-Backed Development Bank
The Privatisation and Corporatisation Board (PCB) has appointed four members to the Board of Directors of the newly established Development Bank of...
