Maldives Inland Revenue Authority
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NewsMajlis raises withholding tax for foreign contractors
The People’s Majlis has passed an amendment to the Income Tax Act, doubling the withholding tax for non-resident contractors from five to 10 percent. The change, which treats the tax as a final levy, is expected to generate an average of MVR 251 million in additional annual state revenue.
NewsSOE unpaid dues to MIRA surge to MVR 3.5 Billion
Unpaid dues from Maldivian State-Owned Enterprises to MIRA have surged to MVR 3.5 billion, marking a MVR 1 billion increase since late last year. While MIRA has recovered MVR 2 billion through enforcement against private firms, total outstanding receivables have climbed to MVR 14.4 billion. Specific defaulting SOEs remain undisclosed.
