Commissioner requests fairness regarding tax system

Commissioner General of Taxation Hassan Zareer said today that maintaining the trust of the tax system is something professionals in the field of tax should share the responsibility in, urging the maintenance of trust in the field.

During the Tax Forum held at Meerumaa Hall today, organized by CA Maldives and Maldives Inland Revenue Authority (MIRA), Zareer stated that the aim of the work in global tax is increasing international cooperation in the field.

The Base Erosion and Profit Shifting (BEPS) project run by the Organization of Economic Cooperation and Development (OECD) addresses tax avoidance. The project looks at the use of government concessions and benefits in regards to "tax avoidance", and the decrease of tax payments outside of the aforementioned as well.

As per Zareer, one of the biggest challenges the tax system faces is the acquisition of tax within the digital economy.

"These are major issues connected to the small economies such as Maldives. I would like to remind the tax professionals, tax agents and tax lawyers of our responsibility, which is maintaining the tax system with integrity and fairness," said the Commissioner General of Taxation.

He went on to say that those who commit tax fraud and partaking in schemes that assist in lowering tax payments not only causes loss of trust, but is something that would hinder the development of Maldives.

The Tax Forum that was conducted today by CA Maldives and MIRA is the first of its kind in Maldives, with 150 attendees appearing at the forum at Meerumaa Hall.

In a time where the digitalization of Maldives is moving at a quickened pace, the slogan of the forum is "Shaping a Smarter Tech Future Together."

The forum, aimed at the tax accounting and audit fields, was attended by Maldivian tax policy makers and international experts.

As was said in the forum by CA Maldives, tax policy makers and tax professionals need to sit at the same table and hold many discussions in order to find solutions to tax related challenges.