TAX

Maldivian tax law is constantly evolving, with changes at the policy, legislative, and administrative level. Since Income Tax began in January 2020, taxing remuneration and capital gains, compliance demands have grown considerably and with limited treaty access, double taxation remains a real risk. Our tax advisors track these developments closely, bring deep expertise in business structuring and cross-border transactions, and having helped shape the Maldives’ tax reform from within the Inland Revenue Authority itself—are well placed to resolve even the most complex taxation matters and disputes.

Tax advisory services

We offer a comprehensive range of tax advisory services to local and international clients. This includes advice on compliance requirements for operating a business in the Maldives, review of commercial and financial arrangements, tax planning, tax due diligence, and compliance audits and reviews. We assist clients during tax audits by the state authority, review transfer pricing documentation, and support clients entering advance pricing arrangements, in addition to dispute resolution, filing objections and appeals, and client representation on tax matters.

Transaction and Strategy Service

We pride ourselves on delivering personalized services built around each client’s unique financial and business strategy needs, giving them access to our broad expertise, extensive relationships, and industry-leading solutions. Our customized approach allows us to address client-specific mergers and acquisitions needs in real time.

Valuation and Business Modelling

Our valuation and business modeling team is well versed in a wide range of valuation requirements, having developed proprietary models for the tourism market and other private equity businesses in the Maldives, working closely with the Royal Institution of Chartered Surveyors (RICS) on complex valuation scenarios. Our work in this area covers financial feasibility studies, business valuations and modeling, property and capital equipment valuations, minority exit and acquisition valuations, impairment assessments, net asset statements, and financial reporting valuations for cash-generating units.

Business Acquisition & Disposal

Our transaction services are tailored to each client’s capital agenda, whether a business is at the capital-raising, capital-optimization, or capital-deployment stage. On the buyer side, we provide financial, operational, and working capital due diligence, deal negotiation support, synergy and value creation work, and carve-out due diligence. On the seller side, we offer financial due diligence and investor briefing packs to help secure a strong position through the transaction lifecycle.

Corporate Restructure & Strategy

We advise on corporate restructuring and strategy, including project financing proposals, loan syndication and reschedule proposals, integration strategy, synergy analysis, and IPO readiness. Our support also extends to balance sheet restructuring, debt and equity offering support, liquidity tests, working capital advisory, loss assessment reviews, and sustainability assurance.

Management Analysis

Our management analysis services help clients appreciate business value through established strategic frameworks, including PESTEL, Five Forces, SWOT, and BCG matrix analysis. We also provide competitor and customer profitability analysis, ABC techniques, product costing analysis, and fixed asset management services.