Proposed Amendments Eases Foreign Investment Restrictions
The Peoples Majlis, on 22 August 2019, continued their discussion on the bill for the first amendment to the Business Registration Act. Under the proposed…
Entries by Husam Shareef
Upper Limit on Compensation for Businesses to be Proposed in Guidelines
On 26 August 2019, a decree was submitted to the Peoples Majilis urging the Government to formulate a policy on managing financial obligations towards parties…
The Second Amendment to the Tax Administration Bill Introduced to Parliament
The People’s Majilis, on 20 August 2019, conducted the first reading of the proposed Bill for the Second Amendment to the Tax Administration Act. The…
Regulation on Construction Period Extension and Rent Deferment Published
On 2 July 2019, the “Regulation on Construction Period Extension and Deferment of Rent and Fines for Places Leased for Tourism Purposes” was published in…
Supreme Court Makes Landmark Decision on Medical Negligence
The Supreme Court of Maldives, on 25 July 2019, has ruled against the State (Ministry of Health) and held that medical negligence was manifest in…
Insight: Medianet Pvt Ltd v MIRA
Summary The phrase “other property” in Section 6(a)(1) of the BPT Act should be construed to include only tangible property In the case of Medianet…
Fines for Late Payment of Invoiced Amounts Cannot Be Arbitrary – High Court
The High Court Of Maldives, on 23 July 2019, partially overturned the Civil Court’s decision in the case Ahmed Amir v Dhivehi Rayyithunge Party. In…
Maldives Signs Singapore Convention on Mediation
The Republic of Maldives, on 7 August 2019, was one of forty-six countries that signed the United Nations Convention on International Settlement Agreements Resulting from…
Government Proposes Major changes to the Tax Administration Act
The Attorney General has announced on 24th July 2019, that a bill has been sent to the President’s Office, proposing a number of amendments to…
Changes to the requirements to qualify as a MIRA Registered Auditor
On 11 July 2019, the MIRA published Tax Ruling 2019/B70 which amends Tax Ruling 2018/B63 (Submission of Financial Statements and Appointment of Auditors). While this…