Third Amendment to the Income Tax Regulation
This Advisory summarises the key aspects of the Third Amendment to the Income Tax Regulation gazetted by the Maldives Inland Revenue Authority on 19 October 2021. The Regulation focuses on rules relating to Employee Withholding Taxes, Capital Gains Withholding Taxes, submission of financial statements and immovable properties. The Regulation also removes several provisions related to employment income – which has been added to the Income Tax Act via the First Amendment to the Act.
