Comptabilitat a les Maldives

Accounting Rules

Tax Year

The taxable period coincides with the Gregorian calendar year (1 Jan-31 Dec).

Accounting Standards

Companies registered under the Companies Act No 10 of 1996 are required to follow international accounting standards in the preparation and presentation of their statutory financial statements. In practice, this is interpreted to include both full IFRS Standards and the IFRS for SMEs Standard.
IFRS Standards are required for all listed companies and financial institutions.

Accounting Regulation Bodies

Maldives Inland Revenue Authority (MIRA)
Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI)

Accounting Reports

According to the Companies Act No 10 of 1996, the Board of Directors shall prepare the accounts to be submitted to the annual general meeting, showing the income and expenses, profit and loss, the annual balance sheet and annual report. The annual report shall include the following:
(1) A review of the business and other activities of the company during the past year
(2) The amount which the Board of Directors recommend should be paid as dividends and the amount they propose to set aside as reserves
(3) Names of the directors of the company and details of the members of the company in the past year
(4) The main activities carried out by the company in the past year.

Publication Requirements

According to the Company Act of the Maldives, all registered companies are required to submit annual financial statements, director’s reports, and auditor’s reports of the previous year to the registrar of companies.

Professional Accountancy Bodies

Institute of Chartered Accountants of the Maldives

Certification and Auditing

Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI).
Auditor General's Office.

Accounting News