MIRA Publishes Advance Pricing Arrangement Regulation for the First Time in Maldives

The Maldives Inland Revenue Authority (MIRA) has published the Advance Pricing Arrangement regulation for the first time in the Maldives.

The regulation is pursuant to Section 53-1 (d) of the Tax Administration Act.

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As a highlight, the regulation allows taxpayers for establishing Bi-lateral or Multilateral agreements. It is mainly focused on global transactions and the proposition of the arms-length terms for such transactions.

For more information, have a look at the regulation here: https://www.mira.gov.mv/TaxLegislation/advance-pricing-arrangement-regulation-gazette.pdf

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