On 20 January 2021, the Maldives Inland Revenue Authority (“MIRA”) issued the Country-by-Country Reporting Regulation requiring annual country-by-country reporting (“’CbCR”) for Multinational enterprises resident in the Maldives. The regulation broadly follows
Suood Anwar & Co has submitted the completed draft of Country’s first Civil Procedure Code.
For the first time in the Maldives, a foreign arbitral award has been directly enforced in the Maldives. In the case of International Construction Consortium v Gasveli Island Pvt. Ltd (1197/CV-C/2013) where the parties had opted for disputes to be settled by arbitration at the Kuala Lumpur Regional Center for Arbitration under UNCITRAL rules
On 15 October 2019, the Government of Maldives submitted Income Tax Bill (“ITB”) to the Parliament. Once the Bill is passed by the Parliament and ratified by the President, it would introduce personal income tax and bring major changes to current Business Profit Tax and Bank Profit Tax regimes
Mohamed Shahdy Anwar has been appointed as the member representative from the legal profession to the University Council of the Maldives National University. The University Council is the University’s highest decision making body
Pursuant to the first amendment to the Tax Ruling TR-2018/B65 (amended via TR-2019/B69 issued on 21 March 2019), amounts payable by a company, a trustee or a partnership as remuneration, as defined in Section 43 of BPT Act, no longer constitutes
The Supreme Court, in the case of CPS Maldives Pvt. Ltd. v. Works Corporation Ltd. (27 SCA 2013) had decided on 19 May 2014
The Supreme Court on 16 September 2013, in the appeal lodged by Nexbis Ltd., Australia against measures of the ACC in the Maldives Immigration Border Control System (MIBCS)
The Supreme Court on 16 September 2013 decided that the Anti-Corruption Commission does not have authority to require termination of any commercial contract despite allegations of corruption therein and that “charges of corruption
Suood Anwar & Co. is prod to announce that Husnu Al Suood, our Principal Partner has been honored with the National Award of Recognition for Outstanding Services in the field of law/legal services.
S & A Lawyers LLP is a limited liability partnership incorporated in 1994 and existing under the Partnership Act of the Maldives
