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...
Ministry Seeks Participation in Restructured Minimum Wage Advisory Board
The Ministry of Higher Education, Labor and Skills Development in the Maldives has issued a call for civil society organizations to apply...
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...
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...
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...
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...
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...
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....
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 highly recommended by Asialaw in Maldives taxation matters
CTL Strategies LLP has been ranked by AsiaLaw Profiles as one of the top-tier law firms in the Maldives.
CTL Strategies has been highly recommended...
Scope of Witholding Tax on payments to Online Travel Agents widened
Maldives Inland Revenue Authority has issued a circular instructing the taxpayers to pay withholding tax on payments made to all online travel agencies (OTAs),...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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Architecture That Breathes: How Aséria Balances Climate and Comfort
Situated on the northeastern edge of Hulhumalé, Aséria is emerging as a true architectural marvel in the Maldives. With strong interest from...
Maldives Halal Travel Wraps Up Major Campaigns in Bosnia, Malaysia, and the Philippines
Maldives Halal Travel has concluded three major destination marketing campaigns across Bosnia and Herzegovina, the Philippines, and Malaysia, wrapping up the initiative...
Maldives Targets New Wave of Investors With 50-Year Resort Leases
In its latest bid to expand high-value tourism infrastructure, the Government of Maldives has opened public tendering for the lease, development, operation,...
Gov’t Spending Trails Behind Revenue as Maldives Posts MVR 1.36 Billion Surplus
The Maldives recorded a budget surplus of MVR 1.36 billion as of 19 June 2025, despite subdued government spending on capital projects....
Gov’t Invites Bids to Develop Halal-Compliant Resorts on Long-Term Leases
The Ministry of Tourism and Environment has announced a public tender for the lease, development, and operation of six tourist resorts under...
