Maldives Inland Revenue Authority
Maldives
Changes to Input Tax Statement and Output Tax Statement

 CIRCULAR

Subject: Changes to Input Tax Statement and Output Tax Statement

Reference is made to the following:

  • Tax Ruling Number TR-2015/G23 (Documents to be submitted with GST return), issued on 5 February 2015.
  • Circular Number 220-TP/CIR/2015/5 (Output Tax Statement), issued on 29 April 2015.

Please be informed that the formats of the Input Tax Statement and the Output Tax Statement referred to in paragraph 5 of the abovementioned tax ruling have been changed as per Annex 1and Annex 2 of this circular respectively. The templates are also available on our website: www.mira.gov.mv.

All GST registered persons are required to file version 15.1 of the Input Tax Statement for taxable periods beginning on or after 1 April 2015. Further, GST registered persons who are required to submit the Output Tax Statement in accordance with paragraph 15 of the abovementioned tax ruling are required to file version 15.3 of the Output Tax Statement.

You are requested to take note of the following in relation to the revised Input Tax Statement:

  1. You are no longer required to prepare a separate Input Tax Statement for each of your taxable activities. Instead, you are now required to prepare a single Input Tax Statement for all taxable activities registered under the respective TIN.
  2. You are now required to specify the taxable activity to which the input tax invoice relates, in the “Your Taxable Activity Number” column of the Input Tax Statement. If an input tax invoice relates to more than one taxable activity, you are required to apportion the tax invoice to the relevant taxable activities on a reasonable basis and show each apportionment in a separate row of the Input Tax Statement. The Taxable Activity Numbers assigned to your taxable activities are stated on your GST Registration Certificates.
  3. All figures must be in the currency in which your GST return is prepared. If an input tax invoice is in a currency other than the currency in which your GST return is prepared, the invoice must be converted to the relevant currency by using a rate within ±2% of the rate published by the Maldives Monetary Authority on the invoice date.

Further, you are requested to take note of the following in relation to the revised Output Tax Statement:

  1. You are no longer required to prepare a separate Output Tax Statement for each of your taxable activities. Instead, you are now required to prepare a single Output Tax Statement for all taxable activities registered under the respective TIN.
  2. You are now required to specify the taxable activity to which the output tax invoice relates, in the “Your Taxable Activity Number” column of the Output Tax Statement. The Taxable Activity Numbers assigned to your taxable activities are stated on your GST Registration Certificates.
  3. You must include in the Output Tax Statement, all tax invoices issued to other GST registered persons during the taxable period. DO NOT include invoices issued to persons not registered for GST.
  4. All figures must be in the currency in which your GST return is prepared. If an output tax invoice is in a currency other than the currency in which your GST return is prepared, the invoice must be converted to the relevant currency by using a rate within ±2% of the rate published by the Maldives Monetary Authority, pertaining to the time of supply of the transaction.
  5. If the total of the “GST” column of your Output Tax Statement is different from Item 6 (Output tax) of your GST return, you must submit a reconciliation of the two figures together with your GST return.

Should you have any queries, please call 1415 or email us at [email protected]

14 May 2015
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