TAX
The rules on both direct and indirect taxes applicable in the Maldives are constantly changing with changes applicable at the policy, legislation and administration levels.
With the recent commencement of Income Tax from 01 January 2020, the tax system in the Maldives underwent major reforms. With the commencement of taxation on remuneration and capital gains, a comprehensive tax system was introduced in the Maldives. Since then, compliance necessities have risen steeply.Our tax advisors closely monitor developments in tax legislation and ensure that our clients are well aware of the tax implications of their commercial and financial decisions.
The Maldives has limited access to the treaty network, and many taxation rules introduced with income tax are prone to double taxation. It is, therefore, crucial now more than ever to proactively analyze the tax implications of carrying out business in the Maldives. Our tax advisors have vast knowledge on business structuring and cross border transactions and can assist our international clients to position their business in the most tax-effective ways with the least compliance burden.
Our tax team has worked as a part of Maldives Inland Revenue Authority and have contributed to the tax system reform in theMaldives. They possess the  necessary expertise to provide the most beneficial solution for even the most complex taxation matters and dispute resolutions.

We offer a comprehensive range of tax advisory services to both local and international clients ranging from;

  • Advisory on compliance requirements of operating business in Maldives 
  • Review of the commercial and financial arrangements and advice on tax implications
  • Tax planning
  • Tax due diligence services 
  • Tax compliance audits and reviews 
  • Assistance during tax audits and reviews by state authority
  • Review transfer pricing documentation
  • Assistance in entering into advance pricing arrangements
  • Assistance in dispute resolution
  • Filing objection and appeal on tax matters
  • Client representation

Transaction and Strategy Service

We pride ourselves on offering our clients personalized services based on their unique financial and business strategy requirements, granting them access to our broad intellectual capital, extensive relationships and industry-leading solutions.
Our customized delivery service approach has allowed us to address client-specific mergers and acquisition needs in real time.
The business valuation and modeling team is well versed in catering to various business valuation requirements in the market. Our years of experience has enabled us to develop proprietary valuation models for the tourism market and other private equity business modules in the Maldives. We follow an integrated approach working closely with Royal Institute of Chartered Surveyors-UK (RICS) to conduct complex valuation scenarios in order to maximize the benefit to our clients.
Transaction and Strategy services are delivered as tailor made services in order to address key features of capital agenda of each client. Your business may be in one of the stages of capital performance map such as capital raising stage, capital optimization stage or capital deployment stage. Our team are well-versed and experienced enough to undertake any mandate of transaction and carefully secure the position of buyer/seller during the transaction lifecycle.

Valuation and Business Modelling

  • Financial feasibility studies Business valuations Business modeling-build  
  • Property valuation 
  • Capital equipment valuations  
  • Minority exits valuations 
  • Valuations for company acquisitions  
  • Impairment assessments 
  • Net Assets statements
  • Financial reporting valuation for CGUs (Cash generating Units)

Business Acquisition & Disposal

Buyer Protection Services
  • Buy side financial due diligence
  • Operational due diligence
  • Working capital due diligence
  • Assist to negotiate terms of transactions
  • Valuecreationand synergy creation services
  • Carve-out financial due diligence

 

Seller Securing Services
  • Seller side financial due diligence
  • Seller side investor briefings pack

Corporate Restructure & Strategy

  • Project financing proposal 
  • Loan syndication and reschedule proposals  
  • Integration strategy and value appreciation services  
  • Synergy analysis 
  • IPO reediness services 
  • Balance sheet restructure services  
  • Debt/equity offering support  
  • Liquidity tests 
  • Working capital advisory support  
  • Loss assessment reviews
  • Sustainability assurance / advisory reviews

Management Analysis (For Business Value appreciation services)

  • Environmental analysis under PESTEL model 
  • Five forces analysis 
  • SWOT analysis 
  • BCG matrix analysis  
  • Competitor analysis Customer 
  • Profitability analysis ABC 
  • Techniques 
  • Product costing analysis 
  • Fixed asset management services