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…

President Solih, on 29 March 2020, ratified the first amendment to the Maldives Anti-Human Trafficking Act.  The amendment brings changes to section 60(b) of the Act - composition of the National Anti-Human Trafficking Steering Committee. Prior to…

President Ibrahim Solih addressed the nation and the concerns of the citizens regarding the COVID-19 pandemic and its effects upon the nation. The President’s speech addressed many concerns which have been shared by citizens and enterprises operating…

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…

Income Tax Regulation (Number 2020/R-21) has been published in the Government Gazette on 10 March 2020. With this, the previous Income Tax Regulation (Regulation Number 2019/R-1090) published by the MIRA on 31 December 2019 has now been repealed. Some…

The Salary and Remuneration Advisory Board, on 20 February 2020, published a report on recommendations to the Minister of Economic Development on setting the National Minimum Wage. Based on studies conducted which focused on two approaches – the…

On 12 February 2020, the 25th Amendment to the Goods and Services Tax Regulation (Regulation Number 2011/R-43) was published in the Government Gazette. The amendment repealed Section 12(d) of the GST Regulation which defined “date of commencement…

A Foreign Direct Investment (FDI) Policy which would govern the approval guidelines in relation to foreign investments in the Maldives has been published. The new policy consolidates existing FDI approval practices and introduces new policy changes. The…

CTL Strategies is conducting a full day seminar on Income Tax in Practice. The seven and a half hour seminar is designed to give participants an overview of the new Income Tax regime and will cover new concepts introduced under the Act as well as important…