Campaign Launched to Deregister Businesses

Maldives Inland Revenue Authority (MIRA) has launched a campaign called, 'Nukuraanama Unikuramaa' aimed to deregister inactive businesses falling within the criteria for deregistration under Goods and Services Tax (GST).Under this criteria, businesses generating an annual income less than MVR 500,000 will be eligible to apply for deregistration. Majority of the businesses submitting GST nil return automatically do not meet the criteria to be registered in MIRA for GST.However, businesses operating within the tourism and import industry will be exempt from this deregistration campaign.