Ministry of Economic Development has removed the requirement to submit tax clearance reports when seeking some of the ministry’s services.
Economic ministry said application to terminate private businesses, companies, partnerships or corporate societies would no longer require the tax clearance reports issued by Maldives Inland Revenue Authority (MIRA). The ministry said tax clearance reports are also no longer required for registration or termination of employment agencies.
The administration has been bringing amendments to commercial laws and regulations for the benefit of local businesses. As such, the Business Registration Act was ratified by President Ibrahim Mohamed Solih last December, mandating the registration of all businesses conducted in Maldives including online businesses. The act also mandates foreigners to seek a permit under the Foreign Investment Act before registering a business in Maldives.