15% Business Profit Tax on taxable profit exceeding MVR 500,000 (first MVR 500,000 exempt).
0% - no personal income tax.
8% standard GST for non-tourism sector goods and services; 17% for tourism-sector goods and services (resorts, hotels) effective from July 1, 2026, confirmed via a Legal 500 Country Comparative Guide - an increase from a prior lower tourism rate that some sources have not yet updated to reflect.
Not applicable in the ordinary sense for individual taxation, confirmed via TaxAtlas, given Maldives imposes no general personal income tax - the Income Tax Act (2019) is focused on business and corporate income rather than individuals. Resident companies and non-resident companies with a permanent establishment in the Maldives are both subject to the 15% Business Profit Tax, confirmed via a specialist compliance source. Tax residency does still matter for a specific purpose, however: see the CFC rules immediately below, which apply based on Maldives residency of individual or corporate owners regardless of the absence of a general personal income tax.
Confirmed directly and specifically via a Legal 500 Country Comparative Guide: the Maldives operates a worldwide tax system with genuine, detailed Controlled Foreign Company provisions. A foreign entity (company, partnership, trust, or other entity) that is not itself a Maldives resident is treated as a CFC if it is controlled by five or fewer Maldives residents. Any Maldives resident owning 10% or more of that foreign entity's share capital must include their proportionate share of the foreign entity's taxable revenue in their own taxable income, calculated under a specified formula, and must submit "Schedule 5 - Reporting of Share of Taxable Income from Controlled Foreign Entities" for each qualifying holding. This is a genuinely specific, well-documented CFC mechanism - not a generic "worldwide taxation" claim.
No statutory thin capitalization ratio was identified in available sources this session.
No general domestic FBAR/Form 8938-equivalent requiring Maldives residents to self-report ordinary foreign accounts was identified, though the CFC reporting obligation above (Schedule 5) functions as a specific, related disclosure requirement for controlled foreign entity ownership. The Maldives Inland Revenue Authority (MIRA) has modernized tax administration through the MIRAconnect platform and has strengthened audits and sanctions, confirmed via a specialist expatriate tax source. Separately and independently of local law, US citizens and Green Card holders with Maldives accounts remain obligated to file FinCEN Form 114 (FBAR) once aggregate foreign accounts exceed USD 10,000, and potentially Form 8938, regardless of local requirements.
The Maldives does not have an extensive treaty network, confirmed via Legal 500, but it is actively expanding: confirmed treaty partners include the United Arab Emirates and Bangladesh (established), Hong Kong (signed May 26, 2025), and Malaysia (entered into force January 22, 2026, with provisions applying from January 1, 2027, confirmed directly via a KPMG tax alert - a treaty pending enforcement as of the 2023 signing per one source, now confirmed in force). Where no treaty applies, the Maldives provides a unilateral tax credit for residents who have paid tax abroad on income also taxable in the Maldives, confirmed via a specialist expatriate tax source, limited to the lesser of the foreign tax paid or the Maldives tax otherwise due on that income.