The Chief Financial Budget Executive at Maldives Ministry of Finance, Mr Ahmed Saruvash has been appointed as the new Chairman of Maldives Inland Revenue Authority’s (MIRA) board.
Mr Saruvash was appointed for the designation following the amendments to the Tax Administration Act, with the powers granted to the Maldives Minister of Finance.
Prior to working at the Maldives Ministry of Finance, Mr Saruvash held board designations at both MIRA and Maldives Center for Islamic Finance Limited. In addition to this, he also was a board member of Maldives Monetary Authority (MMA) prior to his tenure at MIRA’s board.
The latest amendment to the Tax Administration Act states the board of MIRA will consist a member appointed by the Minister of Finance along with five members assigned by the Maldives President and the Commissioner General of Taxation.
The Act further detailed that following implementation, a period of maximum 30 days will be allocated for reappointment of personnel to the designations of Commissioner General of Taxation and the Deputy Commissioner General of Taxation.
The amendment further included appeal policies on tax regulations and other tax related decisions, as the said policies have been amended as well.
Previously, tax-payers must pay the full tax amount to MIRA before filing for grievances or appeal. However, as per the new amendments, the tax-payers can pay 30% of the tax amount before filing for appeal or grievances.