This ruling is issued pursuant to the authority granted under Section 84 of the Tax Administration Act (Law Number 3/2010) as amended by Law Number 14/2011. Unless otherwise stated, all references to the Act are to the Business Profit Tax Act (Law Number 5/2011), and all references to the Regulation are to the Business Profit Tax Regulation (Regulation Number 2011/R-35) as amended. This ruling is legally binding.

Introduction

1. This ruling amends section 11 of the Regulation.

Ruling

2. Amend section 11(b)(1) of the Regulation as follows:

(1) notification to the Registrar of Companies, of the passing of a special resolution under Section 76(a) of the Companies Act of the Republic of Maldives (Law Number 10/96) (hereinafter referred to as “the Companies Act”), under section 76(c) of the Companies Act; or

Date of Effect

3. This ruling shall have effect from the date of its publication in the Government Gazette.