Maldives Inland Revenue Authority (MIRA) has published updated policies for the non-payment of taxes.
The new policies include the actions MIRA would take to reduce the fine for parties that fail to pay taxes on the given deadline and the party can request an agreement with MIRA to pay tax in installments if they fail to do so in one installment.
Moreover, MIRA will have the authority to freeze bank accounts over non-payment in collaboration with Maldives Monetary after MIRA notifies the party 60 days prior to freezing the account.
MIRA would publicize the names of the parties that fail to pay taxes if the party neglects to pay taxes after receiving two notices from MIRA or if the party neglected to submit income statements for six months.
