The Maldives Inland Revenue Authority has published an English-language version of the updated Income Tax Regulation (2020/R-21), which was issued on 10 March 2020. The updated regulation replaces the regulation issued in December 2019 in connection with the new Income Tax Act (Act 25/2019) ({News-2020-01-09/A/6-previous coverage}).
Some of the key aspects of the updated regulation concern the new tax on individuals that was introduced by the new Income Tax Act (ITA), which may be subject t…