The Maldives Inland Revenue Authority has announced the publication of the Second Amendment to the Income Tax Act in the Official Gazette on 31 August 2026. The main change is an increase in the rate of non-resident withholding tax required to be deducted on the gross amount of payments to non-resident contractors from 5% to 10% (Section 55(b)). A new Section 55(b-1) is also added, providing that where a payment to a non-resident contractor also falls within Section 55(a), the payment shall…