Maldives Collects MVR 13 Billion in Taxes in Just Four Months

The Maldives has collected MVR 13 billion in taxes over the past four months, according to the Ministry of Finance. This figure makes up 45% of the total MVR 29 billion the government expects to collect in tax revenue this year.

Compared to the same period last year, tax income has increased by around MVR 600 million, a five percent rise. A key contributor is the Green Tax, which was increased in January. So far, MVR 958 million has been received from this tax alone, with a total of MVR 2 billion expected by the end of the year. This includes an estimated MVR 964 million from the hike.

Another major tax, the Tourism Goods and Services Tax (TGST), is set to rise by one percent in July. The Finance Ministry projects this increase will add MVR 202 million to government revenue. TGST has already brought in MVR 5.5 billion, making it the highest-earning tax to date.

In addition, MVR 2.1 billion has been collected from Business and Property Tax—half of the projected total. Import Duty has generated MVR 1.2 billion, while Departure Tax has contributed MVR 766 million so far.