Tax
Income tax only since 2020, GST split between tourism and general goods
The Income Tax Act 2019 introduced personal and business income tax from 2020 — the Maldives had no general income tax before. GST is charged at a higher rate on tourism supplies than on general goods.
Key rules
- Deadline — Income tax return by 30 June following the calendar tax year
- Deadline — GST return monthly or quarterly depending on turnover
- Deadline — Two interim income tax payments during the year
Governing law
- Income Tax ActLaw 25/2019
- Goods and Services Tax ActLaw 10/2011
- Tax Administration ActLaw 3/2010
In practice
Business profits above the threshold are taxed at 15 percent, with progressive personal rates. Tourism GST was raised to 16 percent from January 2023 and general GST to 8 percent, so older secondary sources understate both. Withholding applies to specified payments to non-residents. There is also a green tax per tourist bed-night. The treaty network is minimal, so relief usually depends on domestic provisions rather than treaties.