Siyam Receives Ranlaari Award as Maldives’ Highest Individual Income Taxpayer

Leading Maldivian tourism entrepreneur Ahmed Siyam Mohamed has received the Maldives Inland Revenue Authority’s (MIRA) prestigious Ranlaari Award for paying the highest amount of individual income tax.

The award was presented at a ceremony held on Thursday evening, where MIRA recognised individuals and businesses that made significant contributions to state revenue while fully meeting their tax obligations.

According to MIRA, Siyam received the Ranlaari Award after recording the highest individual income tax payment during the previous tax year.

This year’s awards recognise taxpayers who fulfilled their tax obligations in full and made the highest contributions between January 1 and December 31 of last year.

MIRA resumed the Ranlaari Awards last year after the programme had been suspended following 2019. This year also marks the first time the award has been presented under the Income Tax Act, which came into effect in 2020 and replaced the former Business Profit Tax (BPT) regime.

The authority said the Ranlaari Awards are aimed at promoting voluntary tax compliance and recognising taxpayers who consistently meet their obligations in a timely and responsible manner.

In addition to Siyam, several businesses and individuals were recognised across a range of tax categories. Companies under the Sun Siyam Group have also previously received recognition from MIRA for their record of tax compliance.

Siyam is the founder of Sun Siyam Group and one of the Maldives’ most prominent tourism entrepreneurs, with business interests spanning the hospitality and tourism sector. Sun Siyam Group currently operates five resorts in the Maldives — Siyam World, Sun Siyam Iru Fushi, Sun Siyam Vilu Reef, Sun Siyam Iru Veli and Sun Siyam Olhuveli — in addition to a resort in Sri Lanka.