MIRA releases Draft Regulation for Public Consultation: Key Changes Proposed Tax Mar 23, 2025 MIRA releases Draft Regulation for Public Consultation: Key Changes Proposed The Maldives Inland Revenue Authority (MIRA) has released the first draft of the Sixth Amendment to the Income Tax Regulation for public consultation and feedback. This draft introduces significant changes, particularly impacting businesses operating in the tourism sector. Stakeholders are encouraged to review the proposed amendments and submit their comments by Tuesday, 15 April 2025 as these changes are expected to have major tax implications moving forward.
Amendments to the GST Act and Regulation Tax Mar 8, 2025 Amendments to the GST Act and Regulation Significant changes have been introduced to the Goods and Services Tax (GST) Act through the 7th Amendment and regulations, bringing updates that will impact businesses, particularly in the tourism sector.
Registration Rules under the Foreign Exchange Act Tax Jan 10, 2025 Registration Rules under the Foreign Exchange Act On January 9, 2025, the Maldives Monetary Authority (“MMA”) has published, the Regulation on Registrations under the Foreign Currency Act (Regulation No. 2025/R-2) (”Regulation”). This regulation establishes the framework of principles and procedures governing registration requirements under the Foreign Currency Act (Law No. 32/2024) (“FCA”), setting the stage for greater clarity and compliance in foreign currency rules. Here’s a breakdown of what you need to know.
Amendment to Maldives Tourism Act and Green Tax Regulation: Key Changes Effective from 01 January 2025 Tax Dec 29, 2024 Amendment to Maldives Tourism Act and Green Tax Regulation: Key Changes Effective from 01 January 2025 The Maldives government announced significant updates to the Maldives Tourism Act (Act No: 21/2024) and Green Tax Regulation (Regulation Number: 2024/R-117), which took effect from 01 January 2025. One of the most notable changes is the doubling of Green Tax (GRT) rates, which came into force starting January 2025.