Income Tax Quiz - Maldives

What is the minimum duration for an individual to be considered a resident of the Maldives?

• 6 months

• 183 days

• 365 days

• 90 days

Which of the following is NOT considered taxable income in the Maldives?

• Rental income

• Interest income

• Gifts from family

• Business income

What is the maximum percentage of taxable income that can be deducted for donations to state institutions?

• 10%

• 15%

• 5%

• 20%

Which of the following is a requirement for a foreigner to be considered a temporary resident in the Maldives?

• Must own property in the Maldives

• Must be permitted to stay under the Maldives Immigration Act

• Must have a permanent job

• Must be married to a Maldivian

Income tax in the Maldives is chargeable on?

• Employment Income

• Business Income

• Interest Income

• All of the above

If a company is incorporated in the Maldives, what is one criterion for it to be considered a resident company?

• It must have foreign shareholders

• It must have its head office in the Maldives

• It must operate in multiple countries

• It must have a minimum of 10 employees

Which of the following expenses is NOT deductible for tax purposes?

• Employee welfare expenses

• Zakat-al-mal

• Fines for non-compliance with laws

• Interest on loans

What is the final deadline for tax return submission following the end of the tax year?

• 31 July

• 31 January

• 30 June

• 1 May

If a specific amount is prescribed for an accounting period shorter than 12 months, how is that amount adjusted?

• It is halved

• It remains the same

• It is doubled

• It is prorated based on the number of days

Are Income tax rates for individuals and companies same in the Maldives?

• Yes

• No