Maldives Compliance Report

Regulatory Overview

Regulatory Status

Regulators have not addressed crypto; legal status ambiguous

Primary Legislation

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Travel Rule

Adopted — Threshold: ,

Tax Reporting

**Individuals:** The Maldives does **not** impose a general capital gains tax on individuals. Therefore, gains realized by individuals from the sale of cryptocurrencies would generally not be subject to capital gains tax.. **Businesses:** If an entity (company, partnership, sole proprietorship) is deemed to be engaged in the business of trading cryptocurrencies, the profits derived from such activities would likely be considered taxable income under the Business Profit Tax (BPT). In this scenario, it wouldn't be a separate "capital gains tax" but rather profits subject to BPT.. **No Personal Income Tax:** The Maldives does not have a personal income tax for individuals. As such, income earned by individuals through cryptocurrency activities (e.g., trading, mining for personal use) would generally not be subject to income tax, provided it is not considered a business activity.. **Business Activity:** If an individual's cryptocurrency activities are deemed to constitute a "business" (e.g., frequent, large-scale trading; professional mining operations; providing crypto-related services), the profits from such activities would fall under the Business Profit Tax (BPT).. **Businesses (Business Profit Tax - BPT):**

Key Facts

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