Vice President Abdullah Jihad has stated that talks to form an agreement on “Double Tax Avoidance” is ongoing with other countries.
Speaking at Maldives Inland Revenue Authority’s (MIRA) 8th-anniversary ceremony, Vice President stated that “Double Tax Avoidance” is an important part of the Government’s economic policy.
He also stated that Government is working with MIRA to improve their works and with MIRA’s advice the needed changes will be brought to the legislation. And that the citizens are the beneficiaries of a good taxation policy, as the income from taxation is invested in the country’s infrastructure and other needs.
He also highlighted the importance of being lenient on taxation when it comes to small businesses.
Commissioner General of Taxation Mr Yazeed Mohamed also highlighted the works being done. With “Double Tax Avoidance” agreement formed with UAE last year and talks with Malaysia, Singapore and Bangladesh finished, talks with Sri Lanka, Thailand, China and Mauritius are currently underway.
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Source URL: Corporate Maldives