The Income Tax Regulations have been published in the Government Gazette, following additional amendments.
Income Tax Regulations include the guidelines to be followed in regulating income tax in accordance with the Income Tax Act. The regulations were first published in the gazette on December 31, 2019. It was published for a second time in the gazette following additional amendments.
Maldives Inland Revenue Authority (MIRA) noted the support of the public, as well as various institutions in formulating the income tax regulations. MIRA revealed the authority opened the opportunity for the public to submit suggestions to the regulations, adding a number of people had responded. The authority further stated meetings were conducted with 27 officials of various institutions and authorities to exchange ideas and information before publishing the regulations in the gazette.
MIRA has been conducting efforts to increase public awareness on the Income Tax Act. The authority said over 700 people have taken part in the information sessions conducted in regard to the act.