QVL

Welcome to October.

Our calendar illustration for October highlights the serene beauty and elegant design of Aisha Mosque. It serves as a beautiful reminder of our shared heritage, community, and tranquility.

The Maldives Inland Revenue Authority (MIRA) has introduced a dedicated GST framework impacting overseas providers of Inbound Tourism Products (ITPs) under the 32nd Amendment to the GST Regulation.

This amendment establishes new compliance rules for GST registration, return filing, and record-keeping, with mandatory online filing commencing on 1 October 2026.

Read the article now on qvl.mv.

We are proud to announce that QVL Partner Zaif Fazal has been published in the International VAT Monitor, a highly respected journal by the International Bureau of Fiscal Documentation (IBFD).

Zaif’s research on "E-invoicing and the Future of Goods and Services Tax Administration in the Maldives" elevates Maldivian tax policy discussions to the global stage and reinforces QVL’s world-class expertise in tax advisory.

Read the full publication here: https://shop.ibfd.org/journal/e-invoicing-and-future-goods-and-services-tax-administration-maldives (https://shop.ibfd.org/journal/e-invoicing-and-future-goods-and-services-tax-administration-maldives?utm_source=gemini)

We know that all these GST changes can be confusing. Send us a message, we’re here to help you navigate through all these tax changes.

The rules about GST in the Maldives are changing quickly and it is vital that all businesses in the hospitality and travel industry are aware of these changes.

Commemorating a defining milestone in our nation's history: the day the Maldives embraced Islam. The partners and team at QVL wish everyone a peaceful and blessed holiday.

Two ways to cross the MVR 60,000 threshold: earning MVR 60,000 or more for two consecutive months, or having an average monthly income of MVR 60,000 even if individual months fall short.

If either applies, you need to be registered with MIRA and current on your filings.

Meet Mohammed Hameed, Founding Partner at QVL. With more than 15 years of experience spanning MIRA, Mauritius Commercial Bank (Maldives), and private practice, Hameed brings deep expertise in audit, assurance, and risk management to our clients.

Swipe to learn more about his professional journey and how he helps businesses in the Maldives build stronger assurance and internal controls.

The First Amendment introduces tighter controls on foreign currency exchange rates, revises mandatory conversion requirements for tourism establishments and other foreign currency earners, and strengthens penalties for non-compliance. Read our latest article for a breakdown of the key changes and what they mean for businesses.

From 1 October 2026, foreign tour operators, travel agents and booking platforms selling Maldives tourism products may be required to register for GST in the Maldives, even without a local presence. Under the new rules, GST will generally apply to the margin earned offshore rather than the full value of the tourism product.