Maldives Corporate Tax & Business Compliance Guide 2026
Maldives Corporate Tax & Business Compliance Guide 2026
(Corporate Tax, VAT/GST and Withholding Tax — Powered by Formix)
In 2026, businesses operating in the Maldives must adhere to corporate tax laws, Value Added Tax (VAT/GST), and various withholding tax regimes. This guide explains those compliance requirements and how employers can manage them effectively.
Corporate Income Tax
Maldives imposes a corporate income tax of 15% on business profits exceeding a minimum threshold (e.g., MVR 500,000). This applies to resident companies and non‑resident companies with a permanent establishment in the Maldives.
Employee Withholding Tax
Employers are responsible for withholding tax from salaries through the EWT system described above, which aligns with personal income tax brackets.
Withholding Tax on Other Payments
Payments to non‑residents, such as dividends, interest, royalties, management fees, and service payments, are subject to non‑resident withholding tax at various rates (often around 5–10%), which must be withheld by the payer and remitted to MIRA.
GST / VAT Compliance
Under Maldives GST law:
Businesses above specified turnover thresholds must register for GST.
GST is typically 8% on general goods and services, with a higher rate (e.g., ~16%) for tourism sector supplies.
Registered businesses must:
Charge and collect GST on taxable supplies
Claim input tax credits on eligible business purchases
File periodic GST returns and remit net GST due
Recordkeeping & Reporting
Businesses must maintain accurate tax records including profit/loss statements, invoices, EWT and pension receipts, and GST documentation for audit and compliance for at least five years.
Compliance Risks
Failure to file returns, remit tax, or maintain records can result in interest, fines, and enforcement actions by MIRA.
Formix Advantage:
Formix is the best corporate tax and compliance partner in the Maldives. We manage corporate tax registration, filing, GST/VAT compliance, withholding tax filing, recordkeeping, and audit readiness so your business remains compliant and efficient in 2026 and beyond.