41:
469:), which is an increase of 57% compared to 2011. In 2013, MIRA collected MVR 8.9 billion (approx. USD 580.1 million), which is an increase of 24% compared to 2012. In 2014 MIRA collected MVR 11.5 billion and in 2015 MIRA collected MVR 13.05 billion. In 2016, MIRA collected MVR 14.52 billion which represents an increment of 11.3% compared to the previous year. MIRA collected MVR 15.18
901:
415:
The functions of the Deputy
Commissioner General of Taxation shall include discharging the duties of the Commissioner General of Taxation in the event that the Commissioner General is unable to attend to the work of the MIRA, and carrying out any other work determined by the Commissioner General. Mr.
295:
Income Tax is levied under the Income Tax Act (Law Number 25/2019). The act was published in the
Government Gazette on 17 December 2019 and taxation under the act commenced on 1 January 2020. However, remuneration came within the purview of income effective 1 April 2020. The tax regimes imposed under
236:
The
Business Profit Tax (BPT) Act came into effect on 18 July 2011. Under the Act, tax is imposed at the rate of 15% on profits exceeding MVR 500,000 (approx. USD 32,425) in a tax year. A lower rate of 5% is applicable to companies resident in the Maldives generating all of their income from outside
278:
This Act prescribes all matters relating to the levying of
Airport Service Charge as a tax and Airport Development Fee as a fee, on passengers departing from the Maldives from an airport in the Maldives. Airport Service Charge (ASC) is levied on passengers departing from the Maldives from an airport
424:
Members of the Board of
Directors of MIRA consists of 7 members including a member appointed by the Ministry of Finance and Treasury, the Commissioner General of Taxation and five members appointed by the President with the approval of the People's Majlis. The chairperson of the Board is the member
199:
on 17 December 2019 and taxation under the act is set to commence on 1 January 2020. However, remuneration will come within the purview of income effective 1 April 2020. The
Business Profit Tax regime imposed under the Business Profit Tax Act would be repealed with the commencement of Income Tax.
224:
In
October 2011, the T-GST regime was repealed and replaced by the Goods and Services Tax (GST) Act. The GST Act came into effect on 2 October 2011, and expanded the tax to all sectors of the economy. The Act imposed a GST at the rate of 3.5% from 2 October 2011 to 31 December 2011 and 6% from 1
406:
The
Commissioner General of Taxation shall carry out the functions of the Commissioner General of Taxation as prescribed in the Tax Administration Act and in any other tax law, and oversee the day-to-day administration of the MIRA. On 2 August 2019, Mr. Yazeed Mohamed was appointed as the first
279:
in the
Maldives, at a rate of US$ 25 per foreign passenger and US$ 12 per Maldivian passenger. Persons with diplomatic immunity, transit passengers and children under the age of 2 are exempt from ASC. Airport Development Fee (ADF), in addition to ASC, will be levied on passengers departing from
216:, tourist hotels, guest houses, picnic islands and tourist vessels, and on certain other services supplied by places providing services to tourists in the Maldives. The tax rate under the Act was 3.5%. The T-GST Act was abolished following the commencement of the Goods and Services Tax Act.
464:
In 2011, MIRA collected MVR 4.6 billion in revenue, which is 89% higher than the collection in 2010 (by the former
Department of Inland Revenue and MIRA) – the newly introduced taxes explain the increase. In 2012, MIRA collected MVR 7.2 billion (approx. USD 466.9
302:
Tax rates and brackets applicable to individuals are given below. The total tax payable of an individual is calculated by allocating the total taxable income of the individual to the appropriate tax brackets and applying the respective rates.
203:
Tax residents of Maldives are taxed on their worldwide income, whereas non-residents are taxed on the income derived from Maldives. The Income Tax Act covers income received through conducting business, employment income, and banking.
248:
Green tax is a tax payable by tourists who stay in tourist resorts, tourist hotels and tourist vessels. It is also payable by tourists who stay in tourist guesthouses from 1 October 2016 onwards. Green tax is payable at the rate of 6
32:
265:
Banks operating in the Maldives are required to pay 25% of taxable profit as Bank Profit Tax. Banks are exempt from paying Business Profit Tax. The Business Profit Tax Act was repealed with the commencement of the
416:
Hassan Zareer was appointed as the first Deputy Commissioner General of Taxation on 2 August 2019. The current Deputy Commissioner General of Taxation, Ms. Asma Shafeeu, was appointed on 31 October 2019.
237:
the Maldives. Further, if any payment specified in Section 6 of the Act is made by a business to a non-resident, a withholding tax at the rate of 10% is imposed on the gross amount of such payment.
473:
in 2017, which is an increment of 4.5% compared to the revenue collected in 2016. In 2018, MIRA collected MVR 16.36 billion which represents an increment of 7% compared to the previous year.
156:, implementation of tax policies and providing technical advice to the government in determining tax policies. The Tax Administration Act stipulates the other responsibilities of MIRA.
257:
per day is charged for tourist guesthouses and hotels on local islands that have less than 50 rooms. Maldivians and resident permit holders are not required to pay Green Tax.
228:
Following the COVID-19 pandemic GST rates were revised upwards from 1st January 2023. The current rates are 16% for the tourism sector and 8% for the general sector.
299:
Residents of the Maldives are taxed on their worldwide income, whereas non-residents and temporary residents are taxed on the income derived from the Maldives only.
212:
The Tourism Goods and Services Tax (T-GST) Act came into effect on January 1, 2011. Under the Act, T-GST is charged on the value of goods and services supplied by
164:
MIRA was established on August 2, 2010, as a separate and independent legal entity. Following the establishment of MIRA, a modern tax system was introduced to the
955:
394:
The Commissioner General of Taxation and the Deputy Commissioner General of Taxation of the MIRA is appointed by the President with the approval of the
240:
The tax regimes imposed under the Business Profit Tax Act and Bank Profit Tax Act were repealed with the commencement of Income Tax on 1 January 2020.
960:
184:
MIRA administers a number of laws and regulations. In addition to the administration of tax laws, MIRA also collects a number of fees and levies.
225:
January 2012 to 31 December 2012. The GST rate on “tourism goods and services” increased to 8% on 1 January 2013 and to 12% on 1 November 2014.
407:
Commissioner General of Taxation. The next Commissioner General of Taxation was Mr. Fathuhulla Jameel, who was appointed on 31 October 2019.
965:
950:
594:
425:
appointed by the Ministry of Finance and Treasury. The Board is responsible for determining the administrative policies of the MIRA.
891:
283:
on or after 1 May 2017, at a rate of US$ 25 per foreign passenger and US$ 12 per Maldivian passenger. Only passengers with
280:
749:
253:
Dollars per day of stay from tourist resorts, tourist hotels and tourist vessels. A lower rate of 3 United States
670:
857:
829:
168:
via the Tourism Goods and Services Tax Act in January 2011 and the Business Profit Tax Act in July 2011. The
802:
296:
the Business Profit Tax Act and Bank Profit Tax Act were repealed with the commencement of Income Tax.
697:
74:
284:
449:
196:
395:
64:
776:
195:
is levied under the Income Tax Act (Law Number 25/2019). The act was published in the
944:
905:
250:
433:
173:
40:
267:
192:
145:
85:
466:
645:
165:
149:
139:
621:
470:
169:
153:
31:
724:
254:
213:
477:
Table 1 –Total revenue collection from 2010 to 2022 (in MVR billion)
904:
This article incorporates text from this source, which is in the
935:
364:
Tax bracket for taxable income derived in an accounting period
309:
Tax bracket for taxable income derived in an accounting period
923:
172:
Goods and Services Tax Act was replaced by the Goods and
152:. The main responsibilities of MIRA include execution of
122:
341:
More than MVR 1,800,000 but not exceeding MVR 2,400,000
333:
More than MVR 1,200,000 but not exceeding MVR 1,800,000
892:"Unofficial Translation of the Tax Administration Act"
325:
More than MVR 720,000 but not exceeding MVR 1,200,000
725:"Overview - MIRA - Maldives Inland Revenue Authority"
110:
Deputy Commissioner General of Taxation, Asma Shafeeu
439:
Ms. Leena Mohamed Zahir Hussain (deputy chairperson)
886:
884:
882:
880:
117:
100:
92:
80:
70:
60:
52:
47:
84:Maldives Inland Revenue Authority, Ameenee Magu,
589:
587:
148:body responsible for tax administration in the
358:Companies are taxed at the following rates.
8:
442:Ms. Aishath Asha Ali Hassan (Board Director)
428:Members currently serving on the Board are:
19:
39:
480:
360:
305:
16:Autonomous taxation body in the Maldives
777:"Maldives Tourist Tax | Maldives Guide"
583:
411:Deputy Commissioner General of Taxation
18:
956:Government ministries of the Maldives
7:
897:. Maldives Inland Revenue Authority.
445:Mr. Makhzoom Saleem (Board Director)
208:Tourism Goods & Services Tax Act
180:Laws & Regulations Administered
455:Mr. Husham Waheed (Board Director)
14:
20:Maldives Inland Revenue Authority
936:Ministry of Finance and Treasury
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402:Commissioner General of Taxation
107:Commissioner General of Taxation
30:
961:Ministries established in 2010
1:
281:Velana International Airport
220:Goods & Services Tax Act
966:2010 establishments in Asia
448:Mr. Mumthaz Abdul Rasheed (
88:20379, Republic of Maldives
982:
951:Government of the Maldives
432:Mr. Ahmed Saaid Musthafa (
372:Not exceeding MVR 500,000
317:Not exceeding MVR 720,000
274:Airport Taxes and Fees Act
38:
29:
24:
349:More than MVR 2,400,000
142:Inland Revenue Authority
287:are exempted from ADF.
232:Business Profit Tax Act
380:More than MVR 500,000
176:Act in October 2011.
420:Governance structure
75:Republic of Maldives
285:diplomatic immunity
270:on 1 January 2020.
261:Bank Profit Tax Act
21:
921:Official website:
197:Government Gazette
144:(MIRA) is a fully
622:"MIRA - About US"
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531:Total tax revenue
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481:
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306:
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96:282 (April 2018)
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34:
22:
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980:
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214:tourist resorts
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65:Revenue service
48:Agency overview
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646:"Income Tax"
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390:Organization
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174:Services Tax
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81:Headquarters
71:Jurisdiction
842:17 December
837:mira.gov.mv
729:mira.gov.mv
655:17 December
650:mira.gov.mv
460:Performance
434:Chairperson
945:Categories
870:2019-11-01
815:2019-11-01
762:2019-11-01
710:2019-11-01
683:2019-11-01
631:2021-09-24
607:2019-11-01
578:References
268:Income Tax
193:Income Tax
146:autonomous
367:Tax rate
312:Tax rate
244:Green Tax
93:Employees
858:"Report"
803:"Report"
787:23 March
750:"Report"
734:23 March
698:"Report"
671:"Report"
595:"Report"
166:Maldives
154:tax laws
150:Maldives
140:Maldives
471:billion
467:million
255:Dollars
170:Tourism
160:History
118:Website
571:22.12
568:15.75
53:Formed
926:.mira
895:(PDF)
861:(PDF)
833:(PDF)
806:(PDF)
753:(PDF)
701:(PDF)
674:(PDF)
598:(PDF)
565:10.5
525:2022
522:2021
519:2020
328:5.5%
125:.mira
86:Male’
928:.gov
844:2019
789:2023
736:2023
657:2019
562:16.8
559:16.4
556:15.3
553:14.6
550:13.1
547:11.5
516:2019
513:2018
510:2017
507:2016
504:2015
501:2014
498:2013
495:2012
492:2011
489:2010
383:15%
352:15%
344:12%
137:The
127:.gov
61:Type
25:MIRA
930:.mv
924:www
544:9.0
541:7.2
538:4.6
535:2.4
375:0%
336:8%
320:0%
129:.mv
123:www
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Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.
