MIRA urges registration of online businesses

Maldives Inland Revenue Authority (MIRA) has notified businesses conducted via websites, Facebook, etc., to have them registered with the authority.

It said in an announcement that it had been noted that several online businesses are being conducted without registration, as required by the Tax Administration Act and Goods and Services Tax Act.

MIRA reminded that it is an offence to operate companies, partnerships, sole proprietorships with minimum MVR 20,000 monthly income, businesses with expected annual income exceeding MVR 1,000,000, and businesses that have obtained import licence, without registration.

Businesses are urged to register before 31 January 2015 by collecting the registration form from the counter or by downloading it from MIRA’s website, said MIRA.