Tax Ruling on Input Tax Claims

On 21 December 2023, the Maldives Inland Revenue Authority (“MIRA”) issued a new tax ruling (TR-2023/G49) clarifying the guidelines for claiming revenue nature input taxes (hereinafter referred as the “Ruling”). This memo provides a summarized overview of the key changes introduced by the new ruling. Readmore

Tax Update: 6th Amendment to the Goods and Services Tax Act

This tax update covers the notable changes brought in the Sixth Amendment to the GST Act (10/2011) (the “Amendment”). The Amendment was passed by the Parliament of the Maldives on 16th November 2022 and ratified by the President of the Maldives on 22nd November 2022. Read More