Treaties

 

Country  Summary  Signature  Entry into Force  Effective Date  Status 
Bilateral Doubble Taxation Avoidance Agreements
United Arab Emirates  Double Tax Avoidance Agreement 17-Oct-17 21-Jun-18 01-Jan-17 In Force 
India Air Transport Agreement between Maldives and India 11-Apr-16 01-Aug-16 01-Jan-17 In Force 
Bangladesh  Double Tax Avoidance Agreement 23-Dec-21 Awaiting Notification  Awaiting Notification  To be Enforced 
Multilateral Double Taxation Avoidance Agreement 
SAARC SAARC Limited Multiletral Agreement on Avoidance of Double Taxation 13-Nov-05 19-Apr-10 01-Jan12 In Force 
SAARC Amendment to SAARC Limited Multiletral Agreement on Avoidance of Double Taxation 13-Nov-05 19-Apr-10 01-Jan12 In Force 
Tax Information Exchange Agreements 
India  Agreement for Exchange of Information with Respect to Taxes 11-Apr-16 01-Aug-16 01-Aug-16 In Froce 
Mutual Administrative Assistnace in Tax Matters 
Multilateral  Convention on Mutual Administrative Assistance in Tax Matters 11-Aug-21 01-Dec-21 01-Jan-22 In Force 
Multilateral Framework Agreement 
Multilateral  Multilateral Competnet Authority Agreement on Automatic Exchange of Country-by-Country Reports   12-Aug-21 01-Dec-21 01-Jan-22 In Force 
Multilateral Multilateral Competent Authority Agreement on Automatic Exchange of Financial Accounting Information  12-Aug-21 01-Dec-21 01-Jan-21 In Force 

Reciprocal Exemption

As per Section 12 (k) of the Income Tax Act, a non-resident owner or charterer of a ship or aircraft may be exempt from the tax if the Commissioner General is satisfied that a reciprocal treatment for Income Tax (or tax similar to income tax) is granted by the taxpayer’s country of residence to a Maldivian resident taxpayer.

For the purposes of Section 12, country of residence is determined based on the location of the taxpayer’s central management and control. If that location cannot be ascertained, the residence of that company shall be deemed to be the place of incorporation or registration of that company.

Application for exemption

A person may apply for the exemption specified in Section 12(k) of the Act by submitting the application for exemption (MIRA 607) form, together with the information and documents specified therein to MIRA.

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