MIRA to pardon tax fines for small businesses

Local taxation authority, Maldives Inland Revenue Authority (MIRA) has decided to pardon tax fines for small businesses in the Maldives.

According to MIRA, this is an additional amenity granted to taxpayers in addition to the usual regulations.

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MIRA further revealed that businesses generating MVR 10 million annually is considered to be a small business. The businesses are required to pay fines for Business Profit Tax (BPT), Withholding tax, Goods and Services Tax (GST) and Green Tax in order to be applicable for the amenity at the authority within the granted period.

MIRA held a similar campaign in 2017 as well. 

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