Guidance on GST Rate Change
This Advisory guides you through any transitional issues that you may be facing with respect to the application of the correct GST rate – especially for transactions that straddle the effective date of rate change.
Entries by Husam Shareef
Tax Alert, 24 November 2022
This issue is focused on the Sixth Amendment to the GST Act (Law Number 20/2022).
The major change introduced via the Amendment is the change in GST rates that is to come into effect from 1 January 2023.
Associations Act
The Regulation provides further details on the registration and classification of SMEs.
MIRA v Dhivehiraajjeyge Gulhun Plc [2022] SC 41
A case whereby the Supreme Court clarified the rules on calculation of time limits for filing appeals of tax disputes.
Common compliance issues with Employee Withholding Tax
In this blog post, our partner and senior tax advisor Hamdhulla Hussain, focuses on analysing the practical issues faced by taxpayers in valuing benefits in kind and puts emphasis on the importance of providing clarity around the boundary between what constitutes taxable remuneration.
Overview of the Proposed Tax on Plastic Bags
With the purpose of reducing the negative environmental impacts caused by plastic waste, the Waste Management Bill proposes a tax equivalent to MVR 2 to be collected from plastic bags at points of sale. Our overview provides a summary of the proposed mechanism on the collection and administration of this tax.
Fourth Amendment to the Income Tax Regulation
This Advisory summarises the key aspects of the Fourth Amendment to the Income Tax Regulation gazetted by the Maldives Inland Revenue Authority on 17 May 2022.
Second Amendment to the SME Act
The Regulation provides further details on the registration and classification of SMEs.
Press Release
Press release from the parents of the child that was sexually abused allegedly by an employee at Galolhu School in October 2021.
Basics of Claiming Input Tax on Capital Expenditure
In this series of Articles, our senior associate Hassan Shah, takes on a critical view on the complexity of the GST rules surrounding input tax in relation to capital expenditure and untangles it for you to walk you through its basics & computation.