GST (Goods and Services Tax)
Goods and Services Tax (GST) is a tax charged on the value of goods and services supplied in the Maldives from 2 October 2011 onwards. GST is charged under the Goods and Services Tax Act (Law Number 10/2011).
The Act brings within its scope the current Tourism Goods and Services Tax (T-GST) regime. It makes a clear distinction between suppliers of tourism goods and services and suppliers of other (general) goods and services.
Registration is compulsory if the value of taxable supplies of a business exceed MVR 1 million per annum. However, importers of goods to the Maldives and suppliers of tourism goods and services are required to register even if the value of their supplies do not exceed the MVR 1 million threshold.
The Act imposes a GST at the rate of 3.5% from 2 October 2011 to 31 December 2011 and 6% from 1 January 2012 to 31 December 2012. The GST rate on tourism goods and services has increased to 8% from 1 January 2013 onwards.
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