Thank you for visiting the webpage of Maldivian GST Calculator Online. On this page dedicated to the Online GST Calculator Maldives -based and foreign companies can find information about the GST rate included and use the Maldivian GST Calculator to figure out how much GST to add to their prices.
What is GST in Maldives?
GST is a consumption tax administered by the Maldivian Inland Revenue Authority. It is charged at the moment of each sale when non-exempt goods or services are sold.
Companies have to become registered GST payers whenever their revenue exceeds the MVR 1 million threshold in the last 12 months. A GST-registered company in Maldives can deduct the GST paid to other businesses by accounting for its input and output GST amounts. Most tax compliance-related tasks can be done via the Maldivian tax authority’s website MIRA. Failing to submit GST reports on time in Maldives can lead to fines. In addition, the Maldivian Inland Revenue Authority publishes a public list of GST non-compliant persons and companies, therefore, tax compliance in the country is especially important.
The standard GST rate in Maldives used to be 6%. However, the supply of tourism goods and services was subject to a higher — 12% — GST rate. From January 1st, 2023, the standard GST rates were increased to 8% and 16%, respectively. With the increase in the tax, the Maldivian government aims to collect more money for the country’s funds.
If you want to quickly calculate what is the amount of GST that you have paid when buying goods or services in Maldives, it is best to use a traditional Maldivian GST Calculator, which can be created on a spreadsheet or a Maldivian GST Calculator Online.
However, before using the calculator, it is worth checking if the goods or services are subject to the GST. In Maldives, GST-exempt goods are medical drugs and devices and donations. Many services are exempt from the GST, too. You can find a full list of the exempt goods and services on the MIRA website in the GST brochures section.
Maldivian Online GST Calculator
Our team has created this Maldivian GST Tax Calculator by using the most recent tax information. 1stopVAT’s GST Calculator in Maldives is regularly updated so that our readers can find reliable information every day despite the changes in regulation.
Use our GST Calculator Maldives whenever you need to find out how much GST you should add to your prices or benefit from the GST Rate Calculator Maldives to learn how much GST you have paid when acquiring goods or using services in the country.
We hope that you found our GST Calculator Online Maldives easy to use. If you have any questions about the GST Calculator Maldives or staying compliant in the country, please reach out to our experts for individual consultation and professional tax assistance.