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GST rules for overseas tourism platforms to take effect in Oct

The amendment was published in the Government Gazette following a ratification ceremony at the President's Office and has entered into force.

President ratifies prison terms and higher fines for tax offences

Under the amended law, the penalty has been changed to imprisonment ranging from three months to two years.

Non-resident contractor withholding tax rises from 5% to 10%

It is expected to increase state revenue by an average of MVR 251 million annually, equivalent to about USD 16 million.

Amendments ratified, 40% conversion rule takes effect Tuesday

Resorts will be required to convert 40 per cent of their monthly foreign currency revenue through banks before the 28th day of the following month.

BML CCO Zamra appointed Managing Director of Hankede company

Zamra was appointed to the position on Thursday, along with four other members of the company's Board of Directors.

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40% dollar conversion rule could bankrupt businesses: Nasheed

Nasheed said wealth generated through the use of the Maldives' natural resources was created through the combined contribution of businesses and their employees

Resort workers launch petition against ending dollar salaries

TEAM has called on resort employees to sign the petition, saying the campaign is intended to protect workers' pay and benefits.

Foreign travel agents launch petition over Maldives GST amendment

The petitioners argue that the value generated through activities performed overseas should not be treated as a tourism service supplied within the country.

42 resorts join petition against ending dollar salaries

TEAM said the response to the petition showed opposition among resort workers to changing the currency in which their salaries are paid.

MMA issues regulation on insurance risk exemptions

The MMA said the two regulations are required to implement the Insurance Act.