Shayaan

The Evidence Act Renewed

On 18 July 2022, the President ratified the Evidence Act (Act No. 11/2022). The act specifies the procedures to be followed when gathering evidence in civil and criminal proceedings, as well as the processes to be followed when submitting, accepting, and evaluating evidence. It also specifies other evidence-related elements, such as the extent of evidence …

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MIRA offers ease for Income Tax Returns

In reference to sections 101 and 103 of the Income Tax Regulations (Regulations No 2020/ R-21), MIRA has issued a circular that states that the companies, general partnerships and limited liability partnerships with taxable income of not more than MVR500,000/- for years 2020 and 2021; and not more than MVR2,000,000/- in total income for the years 2020 and …

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Setting up the “Maldives Health Services”

The President approved his Cabinet’s recommendation to form a separate institution under the name “Maldives Health Services.” The Cabinet deliberated on a paper submitted by the Ministry of Health. The Maldives Health Services would be tasked with improving primary healthcare, catering to the country’s public health requirements under a decentralized setup, developing human resources, and …

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Price tag on plastic bags

A bill has been submitted to the People’s Majlis to make it mandatory to purchase plastic bags at retail stores when shopping. According to the waste management bill submitted, MVR 2 must be charged from customers as a levy on plastic bags issued at points of sale within 30 days of the act coming into …

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SME Act Updated

The second amendment to the Small and Medium Enterprises (SME) Act (Act no. 06/2013) was ratified on 10 May 2022. The amendment redefined the classification of the three categories of enterprises for the law. It also mandated the Registrar of Companies to re-categorise all enterprises into the newly classified categories: micro, small, and medium enterprises; …

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