topic
Remittance Tax
Business & Tourism
Outward remittance dips by almost 40 percent
The Maldives Monetary Authority said US$66.8 million dollars was wired as foreign remittance in 2017, with 46 percent of it going to Bangladesh and most of the rest sent to India and Sri Lanka.
02 May 2018, 9:00 AM
Culture
Tax authority introduces new measures to avoid remittance tax evasion
Overseas money transfers made by either a dependent of a foreign worker or a Maldivian on behalf of the worker will now be subject to the controversial three percent remittance tax. A fine equal to the amount of money remitted will be imposed for tax evasion.
17 Jan 2017, 9:00 AM
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