Notes

1. What are the conditions to be met to be considered as a resident?
2. What are the conditions to be met to be cobsidered as a non-resident?
3. Would a foreigner who holds a workpermit and resides in Maldives for more than 183 day be considered as a resident?
4. Would a Maldivian citizen residing abroad for more than 183 days be considered as a resident or non-resident?
5. What are the implications on a foreigner married to a Maldivian? Are there any tax concessions?
6. Would residents, and work permit holders who resides in Maldives for more than 183 days, would have to declare and pay income tax for income earned from abroad (salary)? If so, would they be able to deduct the tax already paid in their respective countries for this income?
7. Would residents, and work permit holders who resides in Maldives for more than 183 days, would have to declare and pay income tax for income earned from abroad (Dividends)? If so, would they be able to deduct the tax already paid in their respective countries for this income?
8. Would Maldivians based abroad have to declare and pay income tax for salaries and dividends they earn from abroad? Do they get an tax concessions? Do they file and pay annually?
9. If dividends from a resident company is paid to non-resident, what would be the implications? At what rate would be income tax charged? Does the responsibility of paying this tax lie with non-resident individual or the resident company?
10. What would be the taxfree threshold for an individual who only earns business income? Would the taxable profits exceeding the threshold be taxed at 15% or at the same brackets and rates for the monthly income earners?
11. Is there any changes to how interim payments are being made? If so, are the changes only applicable to individuals or rest of the entities as well?
12. Apart from the monthly salaries and allowances, what other benefits would be subject to income tax? Could you give a few examples?
13. How would annual/quarterly bonuses or sales commissions paid to employees be treated for income tax?
14. Is there any changes to how capital allowance be claimed for buildings that have been developed by acquiring a credit facility/loan? Can you elaborate on this please?
15. Would directors/partners remuneration still be capped? Would the directors/partners have to pay income tax on any other payment made to them (other than salary/dividends/profits)? Would the entities have to file monthly or the directors/partners as imdividuals in their annual personal returns?
16. For the monthly income earners who are subject to income tax, what other deductions are allowed apart from the yearly 720K teaxfree threshold? If so, how can this be claimed, monthly or annually?