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 report for the Authority stated that at the end of the year, a total of 25618 businesses had been registered in the tax registry.

MIRA said 598 businesses had been deducted from the tax registry and that 310 unregistered business had been registered after giving the due notice for not registering.

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The report said in addition to registering in MIRA, businesses that fit certain criteria also have to register for GST. At the end of 2015, 10500 businesses had registered for GST, an increase of 16.3 percent compared to 2014. In 2015, 1561 business registered for GST and 518 were deducted from the GST registry.

MIRA said at the end of the year, 32 parties were listed as auditors with the Authority.

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