Non-resident Withholding Tax (NWT)

NWT is a tax deducted at source when certain incomes are derived by non-residents from the Maldives. It is levied under the section 55 of the Income Tax Act, and the obligation to withhold and make the tax payment is on the persons doing business.

# Income Rate
1 Rent in relation to immovable property situated in the Maldives 10%
2 Royalty 10%
3 Interest (except interest received by a bank or non-banking financial institution approved by CG) 10%
4 Dividends 10%
5 Fees for technical services (FTS) 10%
6 Commissions received in respect of services provided in the Maldives 10%
7 Income received in respect of performances in the Maldives by public entertainers 10%
8 Income received for carrying out research and development in the Maldives 10%
9 Insurance premium  10%
10 Income received by a contractor 5%

Non-resident withholding Tax Return (MIRA 602).

15th of the month following the month in which the NWT was required to be withheld.

One NWT return covers one calendar month.

Unless you make a payment listed in the section 55 of the Income Tax Act to a non-resident in a particular month, you are not required file an NWT return for that month.

There could be a circumstance where you wouldn’t have to withhold even if you are making a payment listed in the section 55 of the Income Tax Act [For example: due to a relief available through a DTAA]. Even in such cases, you must file an NWT return.

No, NWT return must be submitted online via MIRAconnect

©   Maldives Inland Revenue Authority