Individual seeks to abolish BPT interim payment to state

People pictured at MIRA's service counters. MIHAARU FILE PHOTO/NISHAN ALI

People pictured at MIRA’s service counters. MIHAARU FILE PHOTO/NISHAN ALI

A lawsuit has been filed at the High Court to abolish the interim payment of Business Profit Tax (BPT) to the state.

According to the Business Profit Tax Act, the first interim payment has to be paid to Maldives Inland Revenue Authority (MIRA) before July 31, while the second payment is due January 31 of the following year.

The lawsuit was filed as a Constitutional Case by an individual to abolish the subject of the Act. It is not certain whether the courts have accepted this case yet.

Interim payment was allocated for the BPT Act in 2011. However, interim payment is not included in general taxes like Goods and Services Tax (GST)  and Tourism GST (TGST).

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