Regulation amended to levy tax on USD-earners in USD

1 week ago

Maldives has amended tax regulations to levy tax on US Dollar-earners in US Dollars. The changes were made via the fifth amendment to the Income Tax Regulation publicized by the Maldives Inland Revenue Authority (MIRA) on Thursday. The amendment mandates taxpayers, including individuals and companies, whose functional currency is a currency other than Maldivian Rufiyaa to pay their taxes in US Dollars.