The Maldives parliament is reportedly considering a draft bill that would amend the rules regarding Maldives source income and withholding tax. This includes a reduction in the non-resident withholding tax rate from 10% to 5% on payments to non-resident contractors and the repeal of the 3% withholding tax rate on payments for reinsurance premiums to a non-resident reinsurer. Further details on the draft bill will be published once available.