Maldives Inland Revenue Authority (MIRA) has stated the authority is conducting several programmes to raise public awareness on the Income Tax Act.
Speaking to PSM News, Director General Corporate Business of MIRA Moosa Haleem said public awareness on the Income Tax Act is very important as it affects a large number of people. He said MIRA has initiated several programmes to raise public awareness, such as public sessions and forums.
Haleem said the act has several clauses in it and hence it would be difficult for everybody to fully understand the act. He said MIRA has prepared leaflets and videos to explain the law to the public.
The Income Tax Act came into effect on January 1, 2020. Income tax will be imposed on employee salaries beginning from April 1. Upon the introduction of income tax, the remittance tax imposed under the Employment Act and the land sales tax imposed under the Maldivian Land Act have been abolished.
Employers are mandated to register employees eligible for income tax in MIRA. All individuals who earn a monthly income of USD 3,884 or above are eligible for income tax. MIRA said individuals registered under the Tax Administration Act do not need to re-register themselves in MIRA under the Income Tax Act.