Maldives Tax Overview

Maldives Tax Overview

The Maldives tax system at a glance

The Maldives historically had no broad income tax; the Income Tax Act (Law No. 25/2019) introduced personal and corporate income tax from 1 January 2020. Tax is administered by the Maldives Inland Revenue Authority (MIRA), and the country also operates a Goods and Services Tax (GST/TGST) and a Green Tax.

• National tax authority — Maldives Inland Revenue Authority (MIRA) (Tax Administration Act (Law No. 3/2010))
• Currency — Maldivian Rufiyaa (MVR) (Maldives Monetary Authority Act)
• Standard tax year — Calendar year (1 January to 31 December) (Income Tax Act (Law No. 25/2019))
• Basis of taxation — Residents are taxed on worldwide income; non-residents and temporary residents only on Maldives-source income (Income Tax Act (Law No. 25/2019))
• Personal income tax-free threshold — MVR 720,000 of annual income (0% band) MVR/year (Income Tax Act (Law No. 25/2019))
• Top marginal personal income tax rate — 15% % (Income Tax Act (Law No. 25/2019))
• Standard corporate income tax rate — 15% on taxable income above MVR 500,000 % (Income Tax Act (Law No. 25/2019))
• Does the Maldives have a consumption tax? — Yes — Goods and Services Tax (GST) at 8% general rate and Tourism GST (TGST) at 17% from 1 July 2025 (Goods and Services Tax Act (Law No. 10/2011))
• Green Tax (environmental tourism levy) — Per-guest, per-night tax on tourist establishments, collected and remitted to MIRA monthly (Maldives Tourism Act (Law No. 2/99) / Green Tax Regulation)
• Annual income tax final return & payment deadline — 30 June of the year following the tax year (Income Tax Act (Law No. 25/2019))
• GST return & payment deadline — 28th of the month following the end of the taxable period (Goods and Services Tax Act (Law No. 10/2011))