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…
Tax Alert, 2 April 2023
This issue of the Tax Alert focuses on the fee on plastic bags.
Tax Alert, 24 November 2022
This issue is focused on the Sixth Amendment to the GST Act (Law Number 20/2022).
The major change introduced via the Amendment is the change in GST rates that is to come into effect from 1 January 2023.
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.
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.
Tax Alert, 15 October 2019
This issue covers the major changes that came into force with the ratification of the Second Amendment to the Tax Administration Act1 on 12 September 2019.
Some of the key changes brought by the Amendment include:
Imposition of a statutory limitation…
Tax Alert, 27 January 2019
This issue covers the most recent developments brought to the rules on Thin Capitalisation. Thin Capitalisation rules were initially introduced by the Maldives Inland Revenue Authority (MIRA) on 26 April 2018, via Tax Ruling TR-2018/B64.
The new rules,…
Tax Alert, 20 June 2018
This issue covers the following:
1. Thin capitalisation rules introduced through Tax Ruling B64.
2. Attributes of employment under a contract of service explained in Tax Ruling B65
3. Fifteenth amendment to the BPT Regulation: repealing of rules…
Tax Alert, 18 February 2018
This issue covers the following:
1. Changes brought to the imposition of WHT on commission paid to Online Travel Agencies. These changes are introduced via the First Amendment to the Tax Ruling TR-2013/B25.
2. New rules introduced by the Twenty-third…
Tax Alert, 17 SEPTEMBER 2017
This issue covers the following:
1.Tax Ruling G42, which amends the GST registration requirements for taxable activities in the general sector, which are run by a person having taxable activities also in the tourism sector.
2. Limitations on claiming…
Tax Alert, 25 MAY 2017
This issue covers the following:
1.Tax Ruling B60, which explains the dates on which an amount subject to WHT becomes payable under Section 6 of the BPT Act to the non-resident.
2. Tax Ruling G41, introducing a new criterion for zero-rating the…