Author: Mohamed Reehaan

Maldives Inland Revenue Authority (MIRA) has revised their tax return forms for taxpayers reflecting the GST bump effective from 01st January 2023. The tax return form for the non-tourism taxpayer form (MIRA205) and the tourism taxpayer form (MIRA206) have been revised to reflect the GST change, MIRA said. In addition to the tax return forms, MIRA also revised the following; Input Tax Statement Output Tax Statement Capital Expenditure Information Sheet MIRA said taxpayers must submit the version 23.1 of the aforementioned forms when filing their tax returns for the taxable period that commenced after 01st January 2023.

Kaani Hotels has reportedly disbursed a total of USD75,600 (MVR1.1 million) in service charges for December 2022. The local tourism business paid USD420 (MVR6,476) to each of its 180 employees. This is also the highest-ever recorded service charge disbursed by a guesthouse operator in the Maldives, it is also higher than the average service charge payouts from most tourist resort properties. Earlier in November 2022, Kaani Hotels paid USD370 (MVR5,705) to its staff in service charges. The Chairman of Kaani Hotels and the current president of Guesthouse Association of Maldives (GAM) Abdulla Nasheed said that the company’s earnings grew significantly…

January has not ended and the Maldives already attracted over 81,000 global travelers. According to the Ministry of Tourism, Maldives has welcomed a total of 81,772 tourists as of 15th January 2023. Top 10 Markets 2023 (as of 15th Jan) Russia: 13,361 (16.3%) Italy: 9,131 (11.2%) India: 7,541 (9.2%) UK: 6,444 (7.9%) Germany: 5,023 (6.1%) USA: 3,855 (4.7%) France: 2,773 (3.4%) Kazakhstan: 1,906 (2.3%) Australia: 1,656 (2.0%) Switzerland: 1,577 (1.9%) The daily arrival average by the review date is at 5,451, and the average duration of stay is 8.3 days. Maldives recorded its highest single day arrival on Monday, 02nd…

Maldives Transport and Contracting Company (MTCC) confirms completing two developmental projects. MTCC reported completing the harbor and channel dredging project in Sh. Noomaraa and the shore protection project in B. Dharavandhoo. The scope of the harbor and channel dredging project consisted of dredging 6,347 cubic meters. The harbor channel became shallow after it accumulated sand owing to strong tidal waves. MTCC confirmed the project rectified the shallow harbor to enhance safer vessel berthing. On the other hand, the shore protection project consisted of the construction of a 470 meters breakwater, 96 meters revetment, and beach filling with 10,800 cubic meters…

The Maldives government collected a total revenue of MVR2.58 billion in December 2022, reports Maldives Inland Revenue Authority (MIRA). MIRA reports a 27.4% increment in revenues when compared with December 2021. The authority said the increment in the collection of the Lease Period Extension Fee, GGST, Income Tax, and Non-Resident Withholding Tax contributed most towards the overall revenue increase. Additionally, the revenues collected in the review month were up by 77.0% from the initial projection. This was due to the significant increment in the collection of TGST, GGST, and Non-Resident Withholding Tax. Top Revenue Contributors GST: 34.2% | MVR882.4 million…

The Prime Minister of the Kingdom of Cambodia, Samdech Akka Moha Sena Padei Techo Hun Sen arrived Sunday morning on an official visit to the Maldives. He arrived at the invitation of Maldivian President Ibrahim Mohamed Solih. This marks Hun Sen’s first visit to the Maldives. The Cambodian Prime Minister and his entourage were received at Velana International Airport (VIA) by the Minister of Foreign Affairs Abdulla Shahid. The Maldives government is expected to hold a ceremony on Monday to officially welcome Hun Sen to the Maldives. During the visit, President Solih will meet with Hun Sen and hold official…

The government expenditure in cumulative terms has reached MVR 386.1 million, reported the Ministry of Finance. Recurrent expenditure is at MVR295.6 million, and capital expenditure is at MVR90.5 million. Under recurrent expenditure, the state has already spent MVR292.2 million on administrative and operational expenses, and only MVR3.4 million on salaries, wages, and pensions of public sector employees. Meanwhile, under capital expenditure, the Maldives government has spent MVR59.9 million on infrastructure assets and another MVR29.3 million on land and buildings. The state revenues, on the other hand, have reached just MVR61.9 million by 05th January 2023. The overall balance for the…

Tourist arrivals to the Maldives reached 59,071 by 11th January 2023, reports the Ministry of Tourism. The arrival count so far this year is 14.0% up from the same period in 2022. The Maldives recorded 51,816 arrivals for the same period in 2022 and 33,544 in 2021. The daily arrival average is currently at 5,370 and the average duration of stay is now 8.1 days. Top 10 Markets (as of 11th Jan 2023) Russia: 10,697 Italy: 7,320 India: 5,119 UK: 4,436 Germany: 3,727 USA: 2,837 France: 1,732 Kazakhstan: 1,397 Australia: 1,233 Switzerland: 1,157 The country has 1,211 registered tourist properties;…

Maldives Marketing and Public Relations Corporation (MMPRC) kicks off a hybrid marketing campaign with Cozmo Travel to promote the Maldives in Qatar and the Middle East. Through the campaign, MMPRC aims to promote the unique geographical features of the island nation, the luxurious services, products, and unique experiences awaiting tourists in the Maldives. The campaign with Cozmo Travel will be conducted from January to March 2023; with online and offline activities conducted in order to further promote the Sunny Side of Life in Qatar and the Middle East. Under the campaign, posts related to the Maldives will be circulated to…

Six Senses Laamu announces to open the Sea Hub for Environmental Learning in Laamu (SHELL) on 01st March 2023. The SHELL sits on the resort’s sunset beach, covering a total area of 5,952 square feet (553 square meters) with its cornerstone earlier on 06th May 2022. The hub will house the Maldives Underwater Initiative (MUI), a marine conservation collaborative consisting of Six Senses Laamu marine biologists and partner NGOs, The Manta Trust, Blue Marine Foundation, and Olive Ridley Project along with a gallery exhibition space, offices, marine laboratory, cinema room, and kids’ zone. Moreover, the hub will be further enhanced…