Maldives cryptocurrency tax guide

What this guide covers

This guide documents the Maldives' crypto regulatory position for 2025, alongside a genuine tax conflict. mira.gov.mv wasn't directly fetched. This is educational information, not individualized tax advice.

Tax treatment of cryptocurrency

Two sources directly contradict each other on whether the Maldives even has a personal income tax that could reach crypto. Crypto itself has no clear legal footing here: it isn't explicitly illegal, but it's also not recognized as legal tender or a formal financial product. The Maldives Monetary Authority (MMA), the sole financial regulator, has prohibited crypto-denominated financial transactions since October 2018 under the Monetary Act (Law No. 6/81), reaffirming this position in October 2021; no enabling legislation has been enacted as of May 2026, even with a Maldives International Financial Centre announced in 2025. On tax, this guide flags a direct conflict: one source states crypto income falls under the general Income Tax Act, Law No. 25/2019, in effect from 1 January 2020, with tiered rates up to 15% on worldwide income for residents, and that no crypto-specific guidance has been issued. A different source instead states that, given the absence of personal income and capital gains taxes in the Maldives, individual crypto gains wouldn't be taxed — a claim that directly conflicts with the first source's citation of an actual, named income tax law. This guide doesn't resolve which is correct.

Common taxable events

• Per the Income Tax Act reading: crypto income as part of worldwide income for residents — potentially taxed at tiered rates up to 15% under Law No. 25/2019. This guide doesn't treat this as settled, given the directly conflicting 'no personal income tax' claim.

Potentially non-taxable events

• Per the conflicting reading: individual crypto gains — potentially untaxed if the Maldives genuinely has no applicable personal income or capital gains tax. This guide doesn't treat this as settled either.

Tax rates and thresholds

This guide doesn't assert a single confident rate, given the direct conflict between a reported tiered rate up to 15% under Law No. 25/2019, and a separate claim that no personal income or capital gains tax applies at all.

Cost basis and calculation

Not resolved in this pass, given the unsettled underlying tax treatment.

Reporting and compliance

• Crypto-denominated financial transactions are prohibited under the Monetary Act (Law No. 6/81) — a payments-system restriction distinct from any income tax reporting question.
• This guide doesn't identify a confirmed individual tax reporting obligation specific to crypto, given the unresolved conflict described above.

Residency and cross-border issues

If the Income Tax Act (Law No. 25/2019) reading is correct, it's reported as applying to worldwide income for residents at tiered rates. This guide doesn't resolve non-resident-specific rules.

Example

This guide omits a worked tax example, given the direct conflict between a reported Income Tax Act application to crypto income and a separate claim that no personal income or capital gains tax applies in the Maldives at all.

Official resources

• Maldives Inland Revenue Authority (MIRA): https://www.mira.gov.mv/
• Maldives Monetary Authority (MMA): https://www.mma.gov.mv/

Limitations and review information

Tax year covered: 2025. Last verified: October 11, 2026. Known limitation: mira.gov.mv and mma.gov.mv weren't directly fetched. Sources directly conflict on whether the Income Tax Act (Law No. 25/2019) applies to crypto income or whether no personal income tax applies at all. This is educational information only, not individualized tax advice — confirm current specifics directly with MIRA, the MMA, or a qualified Maldivian tax professional.