The Income Tax Bill has been passed during the 74th session of the 19th People's Majlis on 4 December 2019 by a Majority vote of 67 members and 3 members against. The Bill was passed by the Members after incorporating a total of 25 amendments. These…

On 1 December 2019, the MIRA introduced the Third Amendment to the Enforcement Policy bringing some important changes that benefit enterprises carrying on business with the State, and also introduces new commitment payment rates and payment schedules…

by Nazahath Ahmed, Associate The Independence of the Judiciary is integral to the separation of powers and rule of law. The concept is set out in the International Bar Association’s Minimum Standards of Judicial Independence (1982) and in the Basic…

Summary Sale of assets or a business combination? Is acquisition of leasehold rights eligible for capital allowance? In the case of Traders Hotel v MIRA1, the Tax Appeal Tribunal (“TAT”), by unanimous decision, upheld the decision of the MIRA…

On 27 November 2019, the Parliament’s Committee of the Whole House has proposed major changes to the Income Tax Bill, which was forwarded to the committee’s review on the 19 November 2019’s parliament session.  One of the significant changes…

The Maldives’ Supreme Court, on 28 October 2019, upheld the ruling of both the High Court, and Civil Court, effectively concluding that countermanding a cheque does not indicate an unfulfilled underlying obligation to the payee, especially in the absence…

On 31 October, President Ibrahim Solih, appointed Fathuhulla Jameel as Commissioner General of Taxation and Asma Shafeeu as Deputy Commissioner General of Taxation. Fathuhulla, a veteran in the field of revenue and taxation, was among several applicants…

This publication gives an overview of the Income Tax Bill submitted to the Parliament by the Government of Maldives on 15 October 2019. The Parliament has commenced debate on the Bill, and is expected to bring changes to the Bill, before voting…

On 28 October 2019, the People’s Majilis approved Fathuhulla Jameel as the new Commissioner General of Taxation of the Maldives Inland Revenue Authority.  Following the second amendment to the Tax Administration Act, a new Commissioner General was…