Legislation

Acts

Public Finance Act

The Public Finance Act (2006) provides for an institutional and regulatory framework for the management of public funds.

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Fiscal Responsibility Act

The Fiscal Responsibility Act aims to achieve fiscal stability and sustainability, improve the fiscal transparency and increase the accountability of the government.

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Decentralisation Act

The Decentralization Act governs the powers and responsibilities of the local authorities empowered to carry out certain functions as set out in the Act.

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Privatization and Corporatization Act

The Privatization and Corporatization Act governs the privatization, corporatization, monitoring and evaluation of state-owned public enterprises and property.

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Tax Legislations

The Ministry of Finance and Treasury is responsible for formulating tax policy and the Maldives Inland Revenue Authority (MIRA) is responsible for tax administration and implementation of taxation policies.

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Regulations

Public Finance Regulation

The Public Finance Regulation sets all the processes, procedures, requirements and related engagement about public finances that state institutions should adhere.

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