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…
Customs Guidelines Allow for Cargo to be Offloaded at Resorts Under Development
The Maldives Customs Service, on 29 March 2018, published guidelines for offloading imported goods directly to tourist resorts undergoing development.
The guidelines, which are in effect from 1 April 2018 to 31 December 2020, allow new resorts which…
Year in Review 2017
This edition of Year in Review focuses on the major changes in tax rules and important regulatory changes in 2017 that impacts businesses in the Maldives. You can refer to our publications on the same rulings or changes to find out more information regarding…
Changes in Regulation Allow for Extension of Acquisition Fee Payment Period for Tourism Islands
The Ministry of Tourism, on 4 March 2018 published the 2nd Amendment to Regulation Number 2016/R-69 (Submission of Proposals for Leasing Islands, Plots of Land and Lagoons for Tourism Purposes) effectively granting an extension of the acquisition fee…
New Ruling makes Construction of Social Housing Projects an Exempt Supply
The Maldives Inland Revenue Authority has published Ruling G46 on 8 February 2018 which makes the construction of housing projects under a social housing scheme, an exempt supply.
To qualify that project as an exempt supply, the GST registered party…
CTL Conducts Webinar on Recent Tax Rulings
A web-based seminar on "Recent Developments on GST and WHT" was held by CTL Strategies on 10 February 2018, which focused on some important changes to the Goods and Services Tax regime and Withholding Tax regime.
The first of it's kind conducted by a…
Important Changes to Input Tax Deduction Rules Relating to Capital Expenditure
The Maldives Inland Revenue Authority has published a Tax Ruling (Number TR-2017/G45) which amends Section 46 of the Goods and Services Tax Regulation. The Ruling introduces some important changes on rules for deducting input tax relating to capital expenditure…
CTL Strategies Highly Recommended by AsiaLaw in Maldives Taxation Matters
CTL Strategies LLP has been ranked by AsiaLaw Profiles as one of the top-tier law firms in the Maldives.
CTL Strategies has been highly recommended for their Taxation and Litigation practices and the team at CTL Strategies has been praised by their…
Foreign Investment Opportunities in the Maldives
It is important to enlist the help of skilled counsel with experience in legal, administrative and, tax requirements when foreign investors establish themselves in the Maldives as their choice of business structure can have different tax and legal implications.…
Tourism Ministry Introduces Share Transfer Fee and Increases Lease Transfer Fee Under Grant of Rights Regulation
The Ministry of Tourism, on 31 October 2017, published the 4th Amendment to Regulation Number 2010/R-14 (Grant of Rights – land and islands leased for tourism purposes) which, by effect of the Amendment, transfers fee impositions from Regulation Number…
New Ruling Changes Complimentary Services Rules
The Maldives Inland Revenue Authority has published a Tax Ruling (Number TR-2017/G43) on 9 October 2017 which amends Section 54 of the Goods and Services Tax Regulation to allow complimentary supplies without any imposition of GST for a period of 7 days.
Prior…