MIRA Calls Upon Taxpayers That Do Not Meet Registration Requirements to Deregister
The MIRA has issued announcements requesting taxpayers who do not fulfil tax registration requirements under the Tax Administration Act, or GST registration requirements to deregister from tax.
The announcement, issued on 16 January 2019, reminds…
Cash Declaration Limit Changed
The Maldives Monetary Authority, on 17 January 2019, published the first amendment to the Regulation on Cross Border Currency Declaration Amount.
The changes introduced now require passengers travelling with USD 20,000 or more, and are travelling…
First Amendment to Income Tax Regulation
Maldives Inland Revenue Authority (‘MIRA’) on 20 July 2020, published the First Amendment to the Income Tax Regulation.
Supreme Court Judgement: Guleyfa Mohamed v Adam Haleem
On 15 July 2020, the Supreme Court of Maldives gave its judgment in the case of Guleyfa Mohamed v Adam Haleem, which originated from a residential tenancy dispute involving non-payment of rent. The Court agreed with the lower court's decision not to award compensatory damages.
CTL Strategies shortlisted for asialaw Awards, Maldives Firm of the Year
CTL Strategies has been selected by asialaw as one of the shortlisted candidates for Maldives Firm of the Year for the asialaw Awards 2020.
Overview of Bill on Sixth Amendment to Employment Act
This publication gives an overview of the Bill on the Eighth Amendment to the Employment Act that the Maldivian Government has submitted to the People’s Majlis.
Supreme Court Judgement: Sea and Sun Maldives v Ismail Rafeeu
On 6 July 2020, the Maldives High Court gave its judgment in the appeal filed by Hilton International Manage (Maldives) Pvt Ltd against Sun Travel and Tours Pvt Ltd. The Court struck down the Civil Court’s decision to award damages to Sun Travel & Tours.
Interest limitation rules under the Income Tax Act
This article explains the interest limitation rules under the Maldives Income Tax Act, with specific focus on thin capitalisation rules, 6% rate cap, and transfer pricing.
Insight: MIRA’s Authority to Initiate Legal Proceedings on Non-tax Amounts
In the case of Moosa Naseer v Maldives Inland Revenue Authority (MIRA), the Supreme Court, on 22 June 2020, passed judgment in favour of Moosa Naseer in a case that, inter alia challenged the MIRA's power to initiate legal proceedings for the recovery of unpaid land rent and fines pursuant to an agreement between the Ministry of Fisheries, Agriculture and Marine Resources (‘MoFAMR’) and Moosa Naseer.
High Court Judgement: Hilton International v Sun Travel and Tours
On 6 July 2020, the Maldives High Court gave its judgment in the appeal filed by Hilton International Manage (Maldives) Pvt Ltd against Sun Travel and Tours Pvt Ltd. The Court struck down the Civil Court’s decision to award damages to Sun Travel & Tours.
MIRA to Collect Non-tax Amounts on behalf of the State
An Amendment to the Public Finance Regulation is published by the Ministry of Finance, which states that non-tax amounts specified in the Regulation will be collected by the MIRA.
Certain payments to the State only accepted as E-payments
A Circular issued by the Ministry of Finance states that from 1 October 2020 onwards, all payments made to government offices exceeding MVR 100,000 and USD 5,000 must be paid as e-payments.