This issue provides an overview of significant legal and regulatory developments affecting businesses, tourism operators, foreign suppliers, and investors in the Maldives.
Key updates include:
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Extension of GST to Inbound Tourism Products (ITPs): Implementation of the Eighth Amendment to the Goods and Services Tax Act and the application of the 'destination principle' to foreign tour operators, travel agents, and offshore booking platforms without a fixed place of business in the Maldives.
• Tax Valuation & Calculation: Understanding the statutory margin formulas, zero-floor rules for loss-making resales, and the treatment of bundled packages under MIRA G859 guidance.
• Mandatory Registration & Compliance: Navigating mandatory registration requirements without a turnover threshold, electronic portal filing procedures, document attachment rules, and monthly or quarterly return thresholds.
• Transitional Rules & Time of Supply: Guidance on how advance payments, existing contracts, invoicing requirements, and stays spanning the 1 October 2026 effective date are handled.
• Specialized Sector Impacts: Key updates covering tourist-vessel charter arrangements, new place-of-supply rules, information disclosure obligations for resorts, and the inclusion of long-term resort villa and strata sales under the GST framework.
For full details, download the complete issue below.
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