The Maldives Inland Revenue Authority (MIRA) issued Transfer Pricing Regulation No. 2020/R-43, which sets out the rules for the preparation and maintenance of transfer pricing documentation. The regulation took effect on 10 June 2020.
As per the new Income Tax Act (Act 25/2019), every person liable to income tax under the Act is required to prepare and maintain transfer pricing documentation in respect of transactions and arrangements entered into with associates by the due date for the sub…