Tax Alert - 2025 Updates to the OECD Model Tax Convention
On 18 November 2025, the OECD Council adopted a series of important updates to the OECD Model Tax Convention and its Commentaries. While the treaty text itself remains largely unchanged, the revised Commentaries introduce substantial new guidance, particularly in relation to permanent establishment (“PE”) issues arising from remote working, extractive industry activities, transfer pricing in relation to financial transactions, and the interaction between tax treaties and international trade agreements.
Maldives Tax Forum 2025 - Outcome Statement
On 5th November 2024, new amendments to three taxation acts were raThe inaugural Maldives Tax Forum 2025, held on November 15, 2025, at Meerumaa Hall, Malé, Maldives, marked a significant milestone in advancing tax dialogue in the Maldives. Organized jointly by the Institute of Chartered Accountants of the Maldives and the Maldives Inland Revenue Authority (MIRA) under the theme "Shaping a Smarter Tax Future Together," the forum brought together over 150 tax professionals, lawyers, accountants, business leaders, and regulatory authorities.atified and published in the Government Gazette. The amendments include the Seventh Amendment to the Goods and Services Tax Act, the Fourteenth Amendment to the Maldives Tourism Act, and the Second Amendment to Airport Taxes and Fees Act. These amendments to the taxation acts primarily increase the relevant tax rates. Details of the changes, including the revised tax rates, are outlined in the document.
Draft Report of Auditors on Solvency
As per Section 133 (b) of Private Company Regulation no 2024/R-99, private companies to pay dividends, they have been required to obtain an assessment from the auditors.<br />
CA Maldives, taking this initiative, has developed the following formats:<br />
1. Draft Report of the Auditors<br />
2. Draft Statement of Solvency, to be prepared by directors
Supreme Court Judgement (Case Summary)
Bunny Holdings (BVI) Limited v MIRA (2023/SC-A/03)
Notification on Recent Amendments to Taxation Acts
On 5th November 2024, new amendments to three taxation acts were ratified and published in the Government Gazette. The amendments include the Seventh Amendment to the Goods and Services Tax Act, the Fourteenth Amendment to the Maldives Tourism Act, and the Second Amendment to Airport Taxes and Fees Act. These amendments to the taxation acts primarily increase the relevant tax rates. Details of the changes, including the revised tax rates, are outlined in the document.