Tax authority to waive off fines on small and medium ventures

Maldives Inland Revenue Authority (MIRA) announced its decision to waive off fines of all local small and medium level ventures registered for the first quarter of 2018.

The country's taxation authority have also decided on showing leniency towards Business Profit Tax (BPT), Withholding Tax, GST and Green Tax fines which became due by June 30.

MIRA has advised all small and medium ventures to make the request for the fine waiver via letter within the next two days.

Taxation authority will be either waiving off or reducing the fine for said businesses from August 28 until October 27.