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…

COVID-19: Tax Considerations for Individuals & Businesses

As the COVID-19 pandemic continues, businesses and individuals will inevitably undergo its unprecedented impacts. With this in perspective, this post will present to you the tax concessions and options that are currently available to taxpayers in the Maldives.

COVID-19 FAQs: Employment Matters

Here we provide answers to some of the important Frequently Asked Question on the rights employees may have in dire situations like the current COVID-19 pandemic situation.

COVID-19 FAQs: Taxes & Fees

Here we provide answers to some of the questions questions with respect to your tax affairs and how the COVID-19 pandemic would have an impact on you as a taxpayer.

COVID-19: Workforce Restructuring

by Rafa Rasheed Prelude In connection with the COVID-19 pandemic, many businesses are considering, or have already reduced their workforce due to the interruption of business operations as a result of measures implemented by the government or due…

President Ratifies amendment to Anti-Human Trafficking Act

President Solih, on 29 March 2020, ratified the first amendment to the Maldives Anti-Human Trafficking Act.  The amendment brings changes to section 60(b) of the Act - composition of the National Anti-Human Trafficking Steering Committee. Prior to…

Government Introduces Stimulus Package to Aid Businesses

President Ibrahim Solih addressed the nation and the concerns of the citizens regarding the COVID-19 pandemic and its effects upon the nation. The President’s speech addressed many concerns which have been shared by citizens and enterprises operating…

COVID-19 - A Reason to Discharge Contractual Obligations?

by Mariyam Naufa   With the onset of the global public health emergency of coronavirus (COVID-19), supply chains continue to be disrupted and consumer spending has plummeted to unprecedented levels. As a result, businesses are looking…