From 1 January 2020 onwards, with the commencement of the Income Tax Act (ITA), land sales tax has been repealed and sale of properties will continue to be taxed under the Capital Gains Tax regime under the ITA.
The Regulation governs and implements the requirements on transfer pricing imposed under Section 68 of the Income Tax Act (Law Number 25/2019).
This publication gives an overview of the Public Health Emergency Bill 2020 submitted to the People’s Majlis on 29 May 2020.
This advisory provides an overview of the key parts of the guidance document on the Income Support Allowance Scheme published by the President’s Office.
On 7 April 2020, the Ministry of Finance issued a press release with the details of the COVID-19 Economic Relief Package offered by the Government. This advisory summarises the said press release.
Some employers may decide to pay income tax on behalf of the employee. In some jurisdictions, such tax payments made by the employer are not considered as a taxable benefit. The case, however, is not the same in the Maldives. This article illustrates how this applies in practice, and how it affects the tax liability of the employee.
Regulation on Collection of Information for the Compilation of Tourism Statistics, which provides for the collection of tourism-related information and rules on how that information would be utilized, has been published in the government gazette
The Public Health Emergency Bill 2020 submitted by the government broadly aims to ensure housing protections, rights of employees, and address financial assistance and tax reliefs to counteract the impact of the #COVID19 pandemic.
The webinar is targeted at tenants, landlords, property developers and managers. The duration of the webinar is expected to be 45 minutes. It will take place on 4 June 2020 at 9:00 pm.
On 20 May 2020, President Ibrahim Mohamed Solih, during a public address, announced the government’s intention to defer land lease payments for tourist resorts for a six month period.