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, 20 APRIL 2017
This issue covers the following:
1. Tax Ruling B59, which explains that some amendments to the BPT Regulation brought via Tax Ruling B56 on 17 January 2017 apply to tax year 2016 as well, but only if a return is not filed by 17 April 2017.
2. Tax…
Tax Alert, 15 FEBRUARY 2017
This issue covers the following developments:
1. Eleventh amendment to the BPT Regulation which changes to several rules on the accounting basis, capital allowance and loss relief.
2. Changes to the submission of financial statements and appointment…
Tax Alert, 8 December 2016
This issue covers the following developments:
1. Publication of the Salary Enforcement Regulation, which prescribed crucial rules for the implementation of Remittance Tax
2. Nineteenth Amendment to the GST Regulation: New rules on time of supply
3.…
Tax Alert, 3 October 2016
This issue covers the following changes to tax laws:
1. Green Tax on guesthouses: Guesthouses to charge Green Tax from 1 October 2016.
2. Publication of Remittance Tax Regulation: Summary of the key aspects of the Remittance Tax Regulation.
Download…
Tax Alert, 28 August 2016
This issue covers the following changes to tax laws:
1. Changes to imposition of Withholding Tax: Tax is imposed on accrued payments as well.
2. Tax Ruling on GST treatment of imported goods: GST is to be charged on imported goods upon sale or transfer.
3.…