MIRA official warns accountants over MIRA procdures
Warning issued after auditors criticized MIRA procedures
Maldives Inland Revenue Authority
A senior official of Maldives Inland Revenue Authority has stated that they were contemplating on not auditing the financial statements provided with the tax statements.
Raajje.mv understands this was said in the ‘Accountants of Maldives’ viber group, a group consisted of registered auditors and tax agents.
The veiled threat came at a time when auditors claimed that MIRA had systematically attacked accounting and auditing sectors. The official said this will make tax payers happy and that MIRA was contemplating the effects of this on tax agents and auditors.
Some auditors had expressed concern over this.
If MIRA begins to accept unaudited financial statements, some auditor said MIRA has to bring in new auditors into the agency to verify the statements.
Current procedures dictate that any business that makes over MVR 10 in a financial year have to submit their financial statements, along with their earnings report, audited by an auditor accredited by MIRA. This is the main source of income for auditors.
