15 December 2015
Issue No: 15/2015
Important Deadlines

DEC 

10

Payment of Trade Fee for December 2015

DEC 

10

Submission of Royalty Statement and Sales Report, and payment of duty free royalty for November 2015 by duty free shops.

DEC 

15

Payment of duty free royalty for November 2015

DEC 

15

Payment of withholding tax for November 2015

DEC 

28

Submission of GST Return for November 2015 and payment of GST.

DEC 

31

Payment of tourism land rent for the first quarter of 2016.

DEC 

28

Submission of Green Tax Return for November 2015 and payment of Green Tax.

Online filing mandatory for large taxpayers from 1 January 2016

All the taxpayers whose annual turnover is equal to or more than MVR 100 million are required to file their tax returns and make payments via MIRA’s online portal, MIRAconnect from 1 January 2016 onwards.

Payments can be made through MIRAconnect by using Vaaru Card or debit/credit card issued by Bank of Maldives.  Payment can also be made through MRTGS.

 Tax returns that must be filed through MIRAconnect include, GST return, Withholding Tax return and BPT return. Additionally, payments for Tourism Land Rent, Agricultural Land Rent, Company Annual Fee and Vehicle Fee can be made through MIRAconnect.

...

Pay your Green Tax the Green way

In keeping with the spirit of green tax, return submission and payment of tax have been made convenient, efficient and environment friendly. MIRA’s new online portal, MIRAconnectPlus is a paperless system for making payments and submitting returns efficiently and reliably.

No additional registration is required for MIRAconnectPlus as Green Tax registered taxpayers have already been issued with their login credentials.

Once the return has been filed through MIRAconnectPlus, it will display the payment options. Currently the payment options are to pay via Vaaru Card which is a specialized card linked to USD account or MRTGS provided by banks in the Maldives. Vaaru Card is a special card issued by the Bank of Maldives in association with MIRA, which can only be used to make tax payments to MIR ...

First Green Tax return due on 28 December 2015

All the Green Tax registered tourist resorts, hotels and vessels are required to file the Green Tax return for November on or before 28 December 2015. Green Tax is imposed pursuant to the sixth amendment to the Maldives Tourism Act, at the rate of $6 per 24 hour block, from tourists staying at Green Tax liable tourist establishments.

Since foreign tourist vessels are required to file the return before they depart from Maldives, the aforementioned deadline will not be applicable to them.

With the exception of foreign tourist vessels, all tourist establishments must submit MIRA 501 form.

If taxpayers fail to file the return by the deadline, MVR 50 per day and 0.5% of tax payable will be charged as fine. Likewise, failure to pay ...

December 2015: Last month of “Kobaa Raseedhu” campaign

“Kobaa Raseedhu” campaign which commenced on 1 August 2015 aiming to promote the habit of issuing receipts for business transactions will be ending on 31 December 2015.

Monthly winner was drawn among the submissions of November and the winner is HDh. Neykurendhoo, Nazim Ali. The campaign, which runs for 5 months, includes a monthly cash prize of MVR 3,000 and a grand prize of MVR 20,000. Grand prize will to be given to the person who submits the most number of receipts from the most number of business outlets. The lucky winners of the December month prize and grand prize will be announced in the upcoming month, January.

Anyone can still participate in this campaign by sending a photo of the receipts you obtain from businesses to MIRA via viber or email. It is also possible to check th ...

Do you Import goods into Maldives? Are you aware of these?

Maldives is a country highly dependent on imported goods and thus most businesses operating in Maldives are importers. For the purpose of taxation, such businesses should pay a special attention towards the following factors.

All importers should register for GST within 30 (Thirty) days from the date on which the permit is granted by the relevant government authority to import goods. When selling such products an invoice must be raised and relevant rate of GST must be charged and paid to MIRA. However, persons importing goods solely for private purposes without holding a permit to sell imported goods need not register for GST. Further, state institutions can also import goods without having to register for GST.

Sometimes a different person might import goods using the import license of another pe ...

Withholding Tax

Withholding Tax is a tax that is deducted from payments that are made to non-residents for a particular service and the use of certain assets. It is required to be deducted under section 6 of the BPT Act at the rate of 10% from the gross payment made to non-resident. The non-resident or the service provider will get 90% of the gross income.

Since the actual taxpayers are non-residents the tax has to be paid to MIRA by every person that makes a payment specified under section 6 of BPT Act to non-resident. They must deduct the WHT from the gross amount of the payment and pay WHT to MIRA.  ...