OrbitaxMaldives Requires Tax Returns and Payment in U.S. Dollars if Functional Currency is Any Currency Other than Maldivian Rufiyaa
|Approved Changes|Maldives
The Maldives Inland Revenue Authority (MIRA) announced the publication of the Fifth Amendment to the Income Tax Regulation on 12 September 2024. The amendment addresses the currency rules in relation to taxes imposed under the Income Tax Act and specifies that a person whose functional currency is a currency other than Maldivian Rufiyaa (MVR) must prepare returns and pay tax to MIRA in United…
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