Businesses’ right to challenge tax bills at courts restricted
Businesses that do not contest tax bills issued by the tax authority within a 30-day appeal period cannot challenge the claim at the courts at a later stage, even if the bill is incorrect, the high court has ruled.
17 May 2016, 9:00 AM
Businesses that do not contest tax bills issued by the tax authority within a 30-day appeal period cannot challenge the claim at the courts at a later stage, even if the bill is incorrect, the high court has ruled.
In a landmark ruling on May 9, the appeals court ruled that the Maldives Inland Revenue Authority did not have to return US$247,954 seized from a real estate company because the company had not challenged MIRA’s tax bill within the specified appeal period.
MIRA had sought the central bank’s intervention in 2013 to freeze the accounts of Bunny Holdings and seize money owed as TGST.
Bunny Holdings took its case to the tax tribunal, claiming the tax bill was incorrect, as its business transactions – relating to the leasing of a water-villa at luxury resort Soneva Fushi – did not qualify for TGST.
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