QVL

Two ways to cross the MVR 60,000 threshold: earning MVR 60,000 or more for two consecutive months, or having an average monthly income of MVR 60,000 even if individual months fall short.

If either applies, you need to be registered with MIRA and current on your filings.

Meet Mohammed Hameed, Founding Partner at QVL. With more than 15 years of experience spanning MIRA, Mauritius Commercial Bank (Maldives), and private practice, Hameed brings deep expertise in audit, assurance, and risk management to our clients.

Swipe to learn more about his professional journey and how he helps businesses in the Maldives build stronger assurance and internal controls.

The First Amendment introduces tighter controls on foreign currency exchange rates, revises mandatory conversion requirements for tourism establishments and other foreign currency earners, and strengthens penalties for non-compliance. Read our latest article for a breakdown of the key changes and what they mean for businesses.

From 1 October 2026, foreign tour operators, travel agents and booking platforms selling Maldives tourism products may be required to register for GST in the Maldives, even without a local presence. Under the new rules, GST will generally apply to the margin earned offshore rather than the full value of the tourism product.

How foreign employees are paid is no longer a matter of employer discretion.

From 24 September, salaries must reach the employee directly, in an account bearing their own name. Where payment is currently made in cash, or routed through an account held by someone else, arrangements will need to be revised before the amendment takes effect.

QVL Partners Ahmed Salah and Mohamed Hameed recently attended the IFRS Forum 2026 hosted by CA Maldives, joining industry leaders to explore the latest advancements in global financial reporting standards.

Finally! The match that everyone has been waiting for, QVL vs MIRA RC

⚽ 20th August, Thursday. 8:15PM at Henveiru Stadium

club

Wishing you a proud, peaceful, and joyous Qaumee Dhuvas as we celebrate our nation's resilience and history today.

Our star player with our star fan ⭐️✨