The Maldivian government has announced amendments to its tax laws, specifically affecting the tourism sector. These changes include an increase in the Tourism Goods and Services Tax (TGST), an increase in the Green Tax, and adjustments to airport taxes and fees.

The Maldives Inland Revenue Authority (MIRA) has recently announced significant changes to the Income Tax Regulation with the recent implementation of the fifth amendment. This amendment brings significant changes to payment currency of income taxes, especially for entities operating in foreign curr

This article outlines the new revenue measures and provide recommendations aiming to help CFOs navigate the changes brought about by the new revenue measures, ensuring that their companies remain financially stable and profitable, while concurrently contributing to the long-term financial stability

This article serves as a comprehensive guide to the Income Tax Filing Deadline for 2023, as stipulated by the Income Tax Act 2020. It outlines the key aspects of tax filing, including the individuals and entities obligated to file an income tax return, and the exemptions available.

The Maldives Inland Revenue Authority (MIRA) has issued a Tax Ruling on January 14, 2024 which focuses on the deductibility of donations under Section 21 of the Income Tax Act.

In an effort to facilitate taxpayers in preparing their income tax returns and financial statements, MIRA has announced a deadline extension for the submission of income tax returns and payment of tax for the year 2022.