Registration Rules under the Foreign Exchange Act Tax Jan 10, 2025 Registration Rules under the Foreign Exchange Act On January 9, 2025, the Maldives Monetary Authority (“MMA”) has published, the Regulation on Registrations under the Foreign Currency Act (Regulation No. 2025/R-2) (”Regulation”). This regulation establishes the framework of principles and procedures governing registration requirements under the Foreign Currency Act (Law No. 32/2024) (“FCA”), setting the stage for greater clarity and compliance in foreign currency rules. Here’s a breakdown of what you need to know.
Amendment to Maldives Tourism Act and Green Tax Regulation: Key Changes Effective from 01 January 2025 Tax Dec 29, 2024 Amendment to Maldives Tourism Act and Green Tax Regulation: Key Changes Effective from 01 January 2025 The Maldives government announced significant updates to the Maldives Tourism Act (Act No: 21/2024) and Green Tax Regulation (Regulation Number: 2024/R-117), which took effect from 01 January 2025. One of the most notable changes is the doubling of Green Tax (GRT) rates, which came into force starting January 2025.
Premier Chambers Law Bulletin - October 2024 Legal Oct 31, 2024 Premier Chambers Law Bulletin - October 2024 The October 2024 PC Law Bulletin covers updates on the Foreign Investments Act, amendments to employment, company, and business registration laws, new income tax rules for USD filers, and a Supreme Court ruling on legal finality. Stay informed by downloading the full bulletin.
Premier Chambers Law Bulletin - August 2024 Legal Aug 31, 2024 Premier Chambers Law Bulletin - August 2024 The August 2024 PC Law Bulletin covers updates on tourism lease extensions, union regulations, stricter tourism leasing requirements, and health services amendments. Stay informed on key legal developments by downloading the full bulletin.
Premier Chambers Law Bulletin - March & April 2024 Legal Apr 30, 2024 Premier Chambers Law Bulletin - March & April 2024 The March-April 2024 PC Law Bulletin covers proposed amendments to the Copyright Act and Employment Act, reinstated Country-by-Country Reporting requirements, and an EPA suspension on coastal development projects. Stay informed by downloading the full bulletin.
Premier Chambers Law Bulletin - January & February 2024 Legal Feb 29, 2024 Premier Chambers Law Bulletin - January & February 2024 The January-February 2024 PC Law Bulletin covers updates on the Industrial Relations Act, Occupational Safety and Health Act, revised Foreign Tourist Vessel Regulation, and tax rulings on charitable donations and GST refunds. Stay informed by downloading the full bulletin.
Premier Chambers Law Bulletin - November & December 2023 Legal Dec 31, 2023 Premier Chambers Law Bulletin - November & December 2023 The November-December 2023 PC Law Bulletin covers updates on the Foreign Investments Bill, the new Companies Act, changes to tourism lease redevelopment rules, and a Supreme Court precedent on director removal. Stay informed by downloading the full bulletin.
Premier Chambers Law Bulletin - September & October 2023 Legal Oct 31, 2023 Premier Chambers Law Bulletin - September & October 2023 The September-October 2023 PC Law Bulletin covers updates on long-term leasing regulations in resorts, new foreign tourist vessel rules, and a Supreme Court decision on corporate liability for subsidiaries. Stay informed by downloading the full bulletin.