Dhiraagu Urges Shareholders to Update Tax Residency Status

Dhiraagu has requested all shareholders to review and update their tax residency status to ensure the correct processing of future dividend payments.

The notice follows statutory obligations under the Maldives Income Tax Act. Under this Act, dividends paid to shareholders who are not tax residents of the Maldives are subject to a 10 per cent Non-Resident Withholding Tax under Section 55(a)(4). Furthermore, if the Company cannot establish that a shareholder is a tax resident of the Maldives at the time the dividend is paid, Section 55(c)(1) requires the Company to deduct the applicable withholding tax from the dividend payment.

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Dhiraagu has advised shareholders to verify their details through the Maldives Securities Depository (MSD) online portal at infinity.mv.

Alternatively, investors can submit a completed Shareholder Information Form via email to the company’s investor relations department.