Maldives Inland Revenue Authority amends their Tax Enforcement Policy to provide relief for smaller businesses.
The taxation body put on their amended Tax Enforcement Policy up on state gazette on Sunday.
As per the third amendment of the policy, taxpayers are provided with an extension of 30 days post due on settling taxes.
In addition to this, should businesses fail to settle their outstanding taxes after the 30-day extension an extra 3-day period will be given.
As such, MIRA can take action against businesses or taxpayers failing to settle their outstanding taxes post the extension.
Initially, tax payer extension from MIRA was a 15-day period.
Furthermore, businesses that are owed payments from state institutions or state-owned corporations will have until the situation is resolved before settling their taxes.
In addition, businesses that are owed money from entities with their payment issues tried at court will also have until the situation gets resolved.
