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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...
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...
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...
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...
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),...
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...
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...
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).
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...
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...
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...
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...
Amendment submitted to change duration period of Bank’s Board of Directors
Ruling Party member Jameel Usman has submitted amendments to Maldives Banking Act (24/2010).
Amendments to Article 15 (b) is a change to the duration of...
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,...
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...
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...
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...
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...
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...
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...
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...
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...
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Maldives Deepens Cooperation with Kuwait Through High-Level Engagements
Foreign Minister Dr Abdulla Khaleel is currently undertaking an official visit to the State of Kuwait at the invitation of Kuwaiti...
Maldives Receives Financial Relief as India Defers T-Bill Repayment
India has granted a one-year extension on a USD 50 million Treasury Bill issued by the Maldives government, offering crucial liquidity...
Gov’t Eyes 1.52M Tonne Emission Cap, Says Minister
The Maldives is intensifying efforts to reduce carbon emissions through a nationwide expansion of renewable energy, according to statements made by...
Parliament Approves Aishath Asna Hamdi as Deputy Governor of MMA
Parliament has approved the appointment of Aishath Asna Hamdi as the new Deputy Governor of the Maldives Monetary Authority (MMA), following...
Reeling in Opportunity: The Rise of Sportfishing Tourism in the Maldives
The Maldives, with its blue lagoons and high marine diversity, is re-entering the tourism scene through the adoption of sportfishing. The...
