In this article, our associate Ali Muraadh takes on an analytical view on the ‘simple PAYE mechanism’ adopted in the Maldives and the impact it has on employees, including the potential eligibility for a tax refund.

This Advisory summarises the key aspects of the recent enforcement policies published by the MIRA.

This Advisory summarises the key aspects of the Third Amendment to the Income Tax Regulation gazetted by the Maldives Inland Revenue Authority on 19 October 2021.

The Amendment introduces revisions to the regulatory fees charged by the Ministry of Tourism (MOT) in relation to transfer of rights of tourist resorts

The Regulation details the regulatory framework for the licensing and operation of payment services. while also introducing role and responsibilities of custodian banks.

CTL Strategies has now been ranked by Chambers and Partners for two consecutive years. The new ranking in Band 2, marks an upgrade for the firm with the firm moving from Band 3 within two years.

The National Payment System Act which regulates the operation of payments systems, clearing systems, settlement systems and payment services.

The Regulation provides further details on the registration and classification of SMEs.

The Fourth Amendment to the Regulation on the Operation of Guesthouses was published on 30 December 2021, beginning a new chapter for Maldivian tourism sector. Under the Amendment, it is now permitted to establish homestay tourist guesthouses in residential…