OECD peer review rates Maldives Largely Compliant on tax information exchange

The Maldives has received an overall rating of Largely Compliant in a Global Forum peer review on exchanging tax information on request, published by the OECD on 3 November 2026.

Where the Maldives sits on the scale

The Global Forum on Transparency and Exchange of Information for Tax Purposes grades countries on four levels: Compliant, Largely Compliant, Partially Compliant and Non-Compliant. The Maldives landed on the second rung. The standard tests whether ownership, accounting and banking records are kept, whether the tax authority can obtain them and whether they can be passed to partner countries on request.

Scores across the 10 elements

• Compliant on six: access to information, notification and appeals, exchange-of-information agreements, the network of partners, confidentiality, and rights and safeguards.
• Largely Compliant on three: accounting information, banking information and effective exchange of information.
• Partially Compliant on one: availability of ownership and identity information.

Beneficial ownership is the weak spot

Most of the key recommendations concern beneficial ownership, that is, the people who ultimately own or control a company, together with how the rules are applied and enforced. The report identifies:

• no guidance on identifying beneficial owners
• no set interval for refreshing beneficial owner information when no event prompts an update
• limited oversight by the Registrar of Businesses, and inconsistent supervision of anti-money laundering duties
• inactive companies, which the report says endanger the availability of information
• records not always retained for five years after an entity stops existing

Reforms so far

The country became a Global Forum member in 2016. Beneficial ownership requirements entered the Companies Act in 2024, backed by a central register held by the Registrar of Businesses. Since April 2026, legal entities have also had to give this information to the tax administration when registering for tax.

Little real-world exchange yet

Agreements cover 156 jurisdictions, and the Maldives can exchange information with the 148 partners whose agreements are in force. It has sent a small number of requests but has not received any. Although it has a dedicated exchange of information unit and a guide, the report says their effectiveness could not be fully tested in practice and advises the Maldives to keep it under review.

Review period and next steps

The assessment covers 1 October 2022 to 30 September 2025, and the legal framework as it stood on 14 August 2026. The Peer Review and Monitoring Group approved the report on 30 September 2026, and the Global Forum adopted it on 30 October 2026. Under the enhanced monitoring methodology, the Maldives is expected to submit a self-assessment to the group on the action it has taken on the recommendations.