AP

MALDIVES INLAND REVENUE AUTHORITY

Mal6. Rcpublic of Maldi\es

TAX RULING
Reference Number: 220-PR./TR/201 l/5

Datei To: Subject:

2l

December 2Ol I

All cST Registered persons

Change of Rate of Goods and Services Tax on I Januarv 2012

Time of supply when the rate of tax changes

l.

Section 17 of the Goods and Services Tax Acr shall apply lo determine the time of supply when the rate of tax changes in accordance with Scctions 15 or 16 of the Act,
or otherwise.

2.

Where the recipient of a good or service makes full or partial payment, tax shall be
accounted for on the full amount of the value of that good or service in accordance

with Scction l7(a) ofrhe Acr, excepl where Secrion l7(b) ofthe Acr applics, in which
case tax shall be accounted

for in accordance with that subsection. As per Section

has been agrccd

l7(b) of the Act, where payment for the supply of goods and services

to be made within a stipulated period under an inslallment agreement, payments made accordingly shall bc regardcd as separatc taxablc tmnsactions, and the time of supply

of goods and seftices in relation to iuy such transaction shall be deemed to be the date on which the installmcnt payment was rcceived, or the date on which the
installment paymcnt would otherwise fall due, whichever is earlier.

Cut-off date

3. If a registered

person supplies goods and services on a 24-hour basis, the rate of tax

applicablc to thc value of supplies made beforc 00:00 hours on I January 2012 shall

bc 3.57c (three point flvc pcr cent) and thc ratc of tax applicable to the value of
supplies made on or after 00:00 hours on I January 2012 shall be 60l. (six per cenl).

Maldi\e\ Inlad Re\enue Aurhont). T Auitdin-{. Amccns V!gu_ Matc. 10379. Mrtdi\A Tcl: (960) 132 2261. Fux: (960) :13 | 657?, E-nrait: info@rDn!.go!.mv, wcbsirc: wws..miru.rdt.m!

2-

4.

Persons not falling within paragraph 3

ofthis Ruling shull apply the rate of tax of67.

(six per cent) to lhe value of supplies made from the time of opening their business on

I January 2012.

Anti-avoidance rule

5. A rcgistered

person shall not conduct any transaction with the intent of avoiding or

evading tax, whether by ananging tbr the supply of a good or service to be made ar a particular time, or otherwise.
6.

A registered person shall be considered to be avoiding tax il

a tax invoice is issued or

any advance payment is received with respect ro the supply of a good or service that is

not consistent with lhe registered person s practice of issuing invoices and receiving
advance payments for such supplies in the absence ol a change in the rate
7.

oftax.

Registered persons shall submit the following particulars, where applicable, to

the M|RA by 29 January Z)12, using rhe tbrmat in Annoi I ro this Ruling:

(a) Details

of

advance payments receivcd and tax invoices issued between

September 201

and

3l

December 201 I, relating to goods or services that were or

would be physically supplied on or afrer I January 2012.

(b) Details

of

advancc payments received and tax invoices issued between

September 2010 and 3 | December 2010, relating to goods or services that were or

would be physically supplied on or after I January 201 L

Should you have any querics. please call us al

14 | 5

or email us al tcf@ mira.gov.mv.

azeed

mmissioner General of Taxation

Tc| (960)312

Maldives Iiland Rcvcnue Aurhoriry, T Building, Amccnee Magu. Mxtc 20t79, Maktiles
2261. F|lrr(9601331 65?7,

E-muil inlb@rmi.a.go!.ov. wchsite: www.nna.go!.lnv

-3Annex 1: Details of Advance Pqlments Received and Tax Invoices Issued

TIN:
Taxpayer Name:

Details of Advance Pavments Received

Total Vtlue ofAdvancr Payments Received iD 2q!! for Goods and Srvices Supplied on or rfter I January 2gle *

Total Vrlue of Advonc! Payments Received ln 20!0 for Goods and Service! Supplld on or after I January 2011 *

fl
30 Septemher

MvR flusD

! MvR LUSD

November Decembcr

Details of Tax Invoices Issued

Totrl Value of Trx Invoices Issued Tottl Value of Tax Invoics Issued In 291! for Goods and Servics in 2010 for tus snd Sftic.es Supplid on or after I January Supplied on or allier I JaDuary

w.

mtt.

!
30 Scotember

MvR

LlusD

MvR f]usD

* Anaunt

erdtllitrc GST/T.GST

rll:

Maldilcs Inland Rcvcnuc Aurhoriry, T-Bu,tding. Amccne Magu. M.1. 20379. Matdivcs (96{)).1:r: 2261. F,x, (960) 131 657?. E-mail: inn,(dmia.so!.m\. wcb\irc: w*w.mira.!o\ mr