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…
Compliance Requirements Under the New Companies Act
The Maldives Inland Revenue Authority (MIRA) has issued a crucial Tax Ruling as of 21 December 2023, outlining revised guidelines for claiming input tax within a 12-month period. This change emphasizes the necessity for businesses to adhere strictly to the input tax claiming deadlines to avoid forfeiture of tax credits, highlighting the importance of accurate and timely tax practices in compliance with the GST Act.
MIRA Issues Tax Ruling on Input Tax Claims
The Maldives Inland Revenue Authority (MIRA) has issued a crucial Tax Ruling as of 21 December 2023, outlining revised guidelines for claiming input tax within a 12-month period. This change emphasizes the necessity for businesses to adhere strictly to the input tax claiming deadlines to avoid forfeiture of tax credits, highlighting the importance of accurate and timely tax practices in compliance with the GST Act.
Policy on Recovery of Tax from Third Parties
The Policy on Recovery of Tax from Third Parties outlines the procedures through which MIRA can recover unpaid taxes, fines or other outstanding payments from third-parties as specified in Section 47 of the Tax Administration Act.
30th Amendment to the GST Regulation
This Advisory guides you through the key changes introduced through the 30th amendment to the GST Regulation.
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.
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.
Enforcement Policies of MIRA
This Advisory summarises the key aspects of the recent enforcement policies published by the MIRA.
Third Amendment to the Income Tax Regulation
This Advisory summarises the key aspects of the Third Amendment to the Income Tax Regulation gazetted by the Maldives Inland Revenue Authority on 19 October 2021.
Establishment of a Minimum Wage
This Advisory summarises the imperative aspects of the Minimum Wage Order gazetted by the Ministry of Economic Development on 8 November 2021.
General Employment Regulation
This Advisory summarises the imperative aspects of the General Employment Regulation gazetted by the Ministry of Economic Development on 9 May 2021.