A digest of news and opinion from the Maldives.
The stated earned MVR 446.1 million in the first three weeks since the beginning of this year, according to statistics published by the Ministry of Finance. While the revenue stands at MVR 446.1 million, the expenditure stood at MVR 644 million by January 21st. It was also detailed that 73 per cent of the state […]
Maldives Inland Revenue Authorities (MIRA) advises caution to upcoming tax deadlines for taxpayers in the midst of rising COVID-19 positive cases. MIRA mentions that the last week of this January contains numerous tax-related deadlines including paying GST and Income tax. January 28, 2021, is the last day to sort out and pay the GST of […]
Maldives Inland Revenue Authority (MIRA) has publicized an updated version of their Taxpayers’ Charter document. The Taxpayers’ Charter is an instructional document targeted to taxpayers as well as other parties concerned with MIRA. The aim of the charter is to aid those receiving services from MIRA in addition to these individuals helping MIRA in return […]
Maldives Inland Revenue Authority (MIRA) has introduced its Compliance Risk Management Policy and the Compliance Improvement Plan for 2021. MIRA states that the policy was introduced to ease the tax obligations for taxpayers, promote ‘voluntary compliance’ of tax guidelines, and reduce ‘non-compliance’ to tax laws and policies. The policy outlines that in the future, MIRA […]
Maldives Inland Revenue Authority (MIRA) has collected MVR 10.5 billion as revenue for last year from January to December 2020. This is 37.7% lower than the amount collected in the year 2019. The majority of the revenue collected in 2020 comprises of GST contributed, with 41.1% (MVR 4.31 Billion) of the total revenue. It is […]
President Ibrahim Mohamed Solih has appointed five members to the Tax Appeal Tribunal. The members appointed yesterday are as follows: 1. Uz Mohamed Munavvar Ali 2. Uza Fathimath Minhath Izzath 3. Mr Hussain Zaidhan Jaleel 4. Mr Ismail Sajidh 5. Uz Ahmed Ashraf The President’s Office opened applications for membership of the Tax Appeal Tribunal […]
The Maldives and the United Kingdom has held discussions on the elimination of tariff on Maldivian fish exports to the United Kingdom. The meeting took place during the Minister of Foreign Affairs virtual call with the Minister of State (Minister for South Asia and Commonwealth) at the Foreign, Commonwealth and Development Office of the United […]
On Monday, the Ministry of Finance submitted a state budget of MVR 34.7 billion for 2021 to the Parliament. It outlined an ambitious plan to increase national income by MVR 1.6 billion in 2021, by introducing six new measures. Summary of proposed activities and projected revenue: Licensing a new telecom operator and frequency spectrum charges: […]
Maldives Inland Revenue Authority (MIRA) has announced that MVR 390.57 million was collected as tax revenue during the month of October. The largest contribution to tax revenue in October came from Goods and Services Tax (GST). MIRA collected MVR 247 million as GST, which made for 63.3 per cent of the total revenue. The second-largest […]