Deadline for registering business at MIRA without fine approaches

As of 15 July 2013, 15,144 taxpayers have been registered at MIRA. Upon the determination of the date on which taxpayers can register their businesses at MIRA without fine, under the Tax Administration Regulation, more taxpayers are now registering their businesses.

In July alone, 88 individuals and 26 companies and other bodies, have registered their businesses at MIRA. Those who are presently conducting business are to register their business at MIRA before 29 July 2013. Taxpayers who do not register their business by this deadline will be fined 50 Rufiyaa per day, as per the Tax Administration Regulation.

Under the Business Profit Tax (BPT) Act, any work besides that conducted under an employment contract can be classified as a business. As such, earning rental income is also considered a business. Taxpayers undertaking any such business are advised to register at MIRA by submitting the MIRA 101 form either to MIRA, or your Atoll council office.

15 Jul 13