MIRA Granted Expanded Powers to Act Against Tax Evaders, Eases Recovery Process

Malé, Maldives – The Maldives Inland Revenue Authority (MIRA) has been granted enhanced authority to take swift action against individuals evading tax payments, including the power to freeze bank accounts under revised regulations. The new amendments, outlined in the updated Rules on Seizure of Funds in Bank Accounts, aim to streamline the recovery process and ensure timely compliance.

One of the most notable changes eliminates the previous 60-day waiting period before MIRA could take action against tax evaders. The updated rules now allow the agency to seize funds from the accounts of defaulters immediately upon serving the required notice, significantly accelerating the enforcement process.

Under the revised guidelines, the notice period for tax evaders has been reduced from two 30-day notices to a single 15-day notice, providing a shorter window for defaulters to address their dues. Additionally, the timeframe for advancing to the next stage after the public disclosure of non-paying individuals has been shortened from 15 days to just five days.

The revised regulations highlight MIRA’s continued commitment to strengthening tax compliance while offering taxpayers a more efficient and fair process to settle their dues. The new rules are expected to help improve the country’s revenue collection and contribute to greater economic stability.