Maldives vs Nicaragua
Tax Rate Comparison
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๐ฐ Personal Income Tax Calculator
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๐ฒ๐ป Maldives โ Island Council Taxes
The Maldives has 188 inhabited islands across 26 atolls administered by island and atoll councils. Councils have limited taxing powers โ primarily fees for services. The Maldives Inland Revenue Authority (MIRA) administers all national taxes. Tourism dominates the economy (>60% of GDP via resort islands). The Business Profit Tax (BPT) at 15% and the Tourism Goods and Services Tax (T-GST at 16%) are major revenue sources. No personal income tax exists for residents earning under certain thresholds.
๐ณ๐ฎ Nicaragua โ Municipal Taxes
Nicaragua's 153 municipalities levy the Impuesto de Matrรญcula (2% of prior revenues), Impuesto Municipal sobre Ingresos (IMI at 1% of monthly revenues), property tax (IBI at 1%), and service fees. Nicaragua under Ortega government has faced significant economic disruption from 2018 protests and subsequent international isolation. The economy has stabilized somewhat but remains one of the poorest in Central America. Tax administration reform has been ongoing with support from international institutions.
Maldives vs Nicaragua: Key Tax Differences (2026)
๐ฐ Income Tax: ๐ณ๐ฎ Nicaragua has a higher top income tax rate (0โ15% vs 0โ30%). ๐ฒ๐ป Maldives is more favourable for high earners.
๐ VAT/Sales Tax: Maldives has a higher consumption tax (8โ16% vs 15%).
๐ข Corporate Tax: ๐ฒ๐ป Maldives offers a lower corporate rate (15% vs 30%), which can influence business location decisions.