The Maldives Signs Double Tax Avoidance Agreement With Malaysia

On Wednesday, the Maldives and Malaysia signed a double tax avoidance agreement which enabled taxpayer certainty and avoid double taxation of income from residents of both countries. The agreement was signed at the Malaysian Parliament Building yesterday between the Finance Minister of Maldives, Ibrahim Ameer and the Deputy Finance Minister of Malaysia, Datuk Seri Ahmad Maslan.

In a statement published by the Finance Ministry of Maldives, it stated that the Double Tax Avoidance agreement will see to the strengthening of economic relations between the Maldives and Malaysia. It will also contribute significantly to cross-border investments, which will increase international cooperation between both sides.

The signing ceremony was witnessed by the Chairperson of Maldives Inland Revenue Authority, Ahmed Saruvash Adam. This is the third double tax avoidance agreement signed by the Maldives, reflecting its commitment to enhance economic competitiveness going forward.