The Maldives Inland Revenue Authority (MIRA) has urged tourism service providers to prepare for the implementation of new TGST rates effective from July 1.
In a circular, Commissioner General of Taxation Hassan Zareer reminded that as per the 7th Amendment to the GST Act, TGST rates will increase from 16 to 17 percent effective from July 1, 2025.
‘Therefore, we urge establishments to make necessary changes in their respective systems to levy 17 percent as TGST, and to plan in advance for pricing of goods and services with the new rates,’ the circular read.
MIRA has also stated that if a GST-registered business provides services on a 24-hour basis, the new TGST rate must be charged from July 1.
