Maldives to forgive tax debts of small businesses

Customers at service counters in MIRA office. PHOTO/MIRA

Customers at service counters in MIRA office. PHOTO/MIRA

Maldives Inland Revenue Authority (MIRA) has decided to forgive tax debts that were pending until the end of March for small businesses.

MIRA stated that it will forgive the penalties of Business Profit Tax (BPT) and Goods and Services Tax (GST) of only businesses that make revenue of less than MVR 10 million annually. The authority stressed that tax debts only up to the end of March will be forgiven.

Concerned businesses are to fill out the respective forms and submit it to MIRA before the end of June.

According to MIRA, the decision to forgive tax debts was taken as a special allowance to small businesses under the tax policy.

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