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…
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.
Tax Alert, 2 July 2020
This issue is focused on the Twenty Sixth Amendment to the GST Regulation published by the MIRA on 26 June 2020. The Amendment introduces several notable changes to the GST Regulation, including a definition for the term ‘charter’ of a vessel and special rules for determining charter arrangements.
Brief on Guideline for Restarting Tourism in the Maldives
This is a brief of the Guideline for Restarting Tourism in Maldives, published by the Ministry of Tourism, in consultation with health professionals and industry stakeholders. It outlines the measures that need to be followed to ensure the safety of tourists and residents.
The Ministry of Finance Issues a Circular on Deferment of Land Rent
The Ministry of Finance, on 28 June 2020, issued a Circular with details in implementing the deferment of land lease announced by the President during his public address on 20 May 2020. As per the Circular, resort land rent payments for the third and fourth quarter of 2020 has been deferred until 1 June 2021. Land rent payments other than resort land rent, that fall within the period 1 June 2020 to 31 December 2020 has also been deferred until 1 June 2021.
MIRA publishes Twenty Sixth Amendment to GST Regulation
Maldives Inland Revenue Authority (‘MIRA’) on 26 June 2020, published the Twenty-Sixth Amendment to the Goods and Services Tax Regulation. The Amendment introduces several notable changes to the GST Regulation, including a definition for the term ‘charter’ of a vessel and special rules for determining charter arrangements.
COVID-19: Tax Measures from Other Countries for Consideration
This article provides an overview of some of the tax measures undertaken by tax authorities globally and attempts to present a comparative analysis of these tax measures with the Maldivian tax system.
CTL Strategies shortlisted for International Tax Review’s Asia Tax Awards
CTL Strategies LLP has been shortlisted by the International Tax Review as one of the Best Newcomer of the Year in Asia for the Asia Tax Awards 2020.
Tourism Ministry publishes procedures to be followed by Tourist Facilities operating in the new normal
The Ministry of Tourism, on 23 June 2020, published the Guideline for Restarting Tourism in Maldives which specifies the minimum standards to be met by registered tourist facilities by the tentative opening dates scheduled for July 2020.