The Maldives Inland Revenue Authority has published the Income Tax Bill submitted before parliament on 14 October 2019. One of the main measures of the Bill is the introduction of a new personal income tax. Currently, individuals are generally only subject to business profits tax if conducting business activities, while foreign workers are only subject to a 3% remittance tax. As proposed, a personal income tax would be introduced on annual income as follows:
- up to MVR 480,000 - 0%
- MVR 480,0…