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…

Overview of Residential Tenancy Bill

This publication gives an overview of the Residential Tenancy Bill that the Maldivian Government has submitted to the People’s Majlis on 6 December 2019.

COVID-19: Revised Deadlines for Taxes and Fees

This advisory provides an overview of the announcements by MIRA and other government authorities with respect to the new deadlines for filing and making payment of taxes and fees.

Tax Alert, 18 June 2020

This issue is focused on the Transfer Pricing Regulation (Regulation Number 2020/R-43) published by the Maldives Inland Revenue Authority (MIRA) on 10 June 2020.

COVID-19: Income Support Allowance Scheme

This advisory provides an overview of the key parts of the guidance document on the Income Support Allowance Scheme published by the President's Office.

COVID-19 Economic Relief Package

On 7 April 2020, the Ministry of Finance issued a press release with the details of the COVID-19 Economic Relief Package offered by the Government. This advisory summarises the said press release.

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…

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…

Overview of the Income Tax Act

  This publication gives an overview of the Income Tax Act (“ITA”) which has commenced on 1 January 2020.  If you have any questions or wish to discuss the implications of the Act on you, please contact one of our tax advisors or drop…

Year in Review 2019

Our “Year in Review 2019” summarises the crucial regulatory developments in 2019. For ease of reference, these are categorised and labelled as “tax” and “legal” developments. Most of these developments are already explained in further detail in the several publications we made during the year. Some of the issues have also been addressed to in Blog posts by our lawyers and tax advisors.