Maldives
Southern Asia • UTC+5 • Indian/MaldivesMaldives Tax System
The Maldives tax system is characterized by the absence of personal income tax. The primary taxes include a corporate tax and a Goods and Services Tax (GST), which apply to businesses and consumption.
Income Tax
0%
No personal income tax
Corporate Tax
15%
Standard corporate tax rate
VAT / GST
12%
Standard GST rate
Nomad Visa
Not Available
No dedicated program
Tax System Overview
The Maldives tax system is simple, with no personal income tax. The focus is on corporate taxation and GST, making it attractive for businesses.
System Type
No personal income tax
Resident Taxation
Residents are not taxed on personal income.
Non-Resident Taxation
Non-residents are not taxed on personal income.
Tax Year
January 1 – December 31
Income Tax Bands
No personal income tax. Maldives does not levy tax on personal income.
Tax Treaty
Double Taxation Agreements help prevent the same income from being taxed in two countries.
India
Treaty ActiveThe treaty between Maldives and India aims to prevent double taxation and fiscal evasion with respect to taxes on income.
Key Benefits
Prevents double taxation on income earned in both countries.- Reduced withholding tax on dividends, interest, and royalties.
Totalization Agreement
Totalization agreements help workers avoid double social security contributions.
India
Agreement ActiveThe agreement between Maldives and India coordinates social security systems to prevent double contributions.
Coverage Areas
Facts
- Prevents double social security contributions for workers between Maldives and India.
- Allows workers to combine contribution periods for benefits eligibility.
Other Countries with Agreements
Business & Freelancing
Corporate Tax Rate
15% standard rate for businesses operating in the Maldives
VAT Registration
Mandatory for businesses with annual turnover exceeding MVR 1 million.
Freelancer Rules
Freelancers are not subject to personal income tax but must comply with GST if applicable.
Crypto Policy
Cryptocurrency transactions are not specifically regulated or taxed.
Frequently Asked Questions
Digital Nomad & Benefits
Visa Details
Tax Perks
- No personal income tax for residents or non-residents
- Low corporate tax rate of 15% for businesses
Filing Roadmap
Register Your Business
Ensure your business is registered with the Maldivian authorities to comply with local regulations.
Maintain Accurate Records
Keep detailed records of all business transactions to facilitate accurate tax filings.
Prepare Financial Statements
Compile financial statements to determine your taxable income and GST obligations.
File Your Tax Return
Submit your corporate tax return by April 30 using the Maldives Inland Revenue Authority's online portal.
Pay Any Tax Due
Ensure any taxes owed are paid by the filing deadline to avoid penalties.