Summary of Income Tax Bill 2019
March 4, 2021
FJS takes a look at the newly proposed Income Tax Bill by the Government of Republic of Maldives before People’s Majlis on 14th October 2019. Through the Bill, the Government aims to enhance and combine the current taxes levied of Business Profit Tax (BPT), Bank Profit Tax, Remittance Tax, Land Sales Tax and Petroleum Tax. The article summarizes the major provisions in the Bill and its implications.