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...
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...
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...
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...
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...
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...
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...
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...
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,...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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 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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Restaurant and Hotel Prices Surge Nearly 30 Percent Year-on-Year in Maldives
Prices in the restaurant and accommodation sector have risen by nearly 30 per cent over the past year, according to the...
Gov’t Eyes Fast-Paced Rollout of 550 Development Projects
President Dr Mohamed Muizzu has announced that physical work on more than 550 development projects—including both new and previously stalled initiatives—will...
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Start your day with the warmth of natural light filtering in as your bedroom adjusts to a comfortable 22°C, a thoughtful touch...
President Hails Rise in Dollar Remittances, Says USD 150M Sent to Banks Since January
President Dr Mohamed Muizzu has revealed that USD 150 million has been remitted to local banks since January under the new...
Last Chance to Tap and Win: Ooredoo’s Karaa Felhun Game Ends Soon with Grand...
Gaming fans across the Maldives are being reminded that time is nearly up to join Ooredoo Maldives’ popular Ramadan mobile game, Karaa...
