Maldives and Singapore have concluded the first round of discussions for a Double Tax Avoidance Agreement (DTAA) between the two countries. The discussions between the tax authorities of both countries began on July 9.
The discussions were headed by Deputy Commissioner General of Taxation of Maldives Inland Revenue Authority (MIRA) Hassan Zareer and Deputy Commissioner of International, Investigation and Indirect Taxes Group at Inland Revenue Authority of Singapore (IRAS) Chia-Tern Huey Min. Under the agreement, double taxation of revenue generated from inter-country business transaction will be eliminated and will contribute to exchange of tax related knowledge between the two nations.
Maldives has similar agreements with several countries including India and UAE.