Maldives Targets Resort Tax Evasion with Tough New Measures

The Maldives Inland Revenue Authority (MIRA) unveiled a Compliance Improvement Plan for 2025-2026 to combat tax evasion in tourism and other sectors. MIRA identified underreporting of income by resorts due to operational expenses, overvaluation of assets, profit shifting to low-tax jurisdictions, and intentional tax minimization. The plan includes auditing high-risk entities, proposing legal amendments, developing policies for resorts, and engaging stakeholders. Other sectors targeted include guesthouses, construction, food service, transportation, and professional services. MIRA also plans to address high-net-worth individuals by defining a framework and amending laws. The initiative aims to foster a culture of compliance and ensure fair tax contributions.

The Maldives Inland Revenue Authority (MIRA) unveiled a Compliance Improvement Plan for 2025-2026 to combat tax evasion in tourism and other sectors. MIRA identified underreporting of income by resorts due to operational expenses, overvaluation of assets, profit shifting to low-tax jurisdictions, and intentional tax minimization. The plan includes auditing high-risk entities, proposing legal amendments, developing policies for resorts, and engaging stakeholders. Other sectors targeted include guesthouses, construction, food service, transportation, and professional services. MIRA also plans to address high-net-worth individuals by defining a framework and amending laws. The initiative aims to foster a culture of compliance and ensure fair tax contributions.

The Maldives Inland Revenue Authority (MIRA) unveiled a Compliance Improvement Plan for 2025-2026 to combat tax evasion in tourism and other sectors. MIRA identified underreporting of income by resorts due to operational expenses, overvaluation of assets, profit shifting to low-tax jurisdictions, and intentional tax minimization. The plan includes auditing high-risk entities, proposing legal amendments, developing policies for resorts, and engaging stakeholders. Other sectors targeted include guesthouses, construction, food service, transportation, and professional services. MIRA also plans to address high-net-worth individuals by defining a framework and amending laws. The initiative aims to foster a culture of compliance and ensure fair tax contributions.

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