Maldives Introduces Electronic Tax Payment Obligation For Largest Firms
by Lorys Charalambous, Lowtax.net, Cyprus
20 March, 2019
From April 1, 2019, taxpayers with an annual turnover of MVR50m (USD3.25m) or more will be required to make payments to the Maldives Inland Revenue Authority via the MIRAconnect online tax administration portal.
Electronic payment will be required for goods and services tax, withholding tax, and business profit tax. Affected taxpayers are to be contacted by the tax agency. Taxpayers struggling to comply with the requirement to pay electronically through the portal may request a decision from the Commissioner General to exceptionally make payment using another method.
The obligation to pay electronically via MIRAconnect was announced in Tax Ruling 2019/A18, published February 18, 2019.
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