Maldives Publishes Advance Pricing Agreement Regulation

The Maldives Inland Revenue Authority (MIRA) has published an English-language version of the Advance Pricing Arrangement Regulation 2021/R-42, which was first published on 16 March 2021 and is effective from that date. Measures allowing MIRA to enter Advance Pricing Agreements (APAs) were introduced by the Third Amendment to the Tax Administration Act, which entered into force on 16 December 2020.

The objective of the Regulation is to establish the policies and procedures for entering into…