Category Taxation in Maldives

Maldives Investigates Voluntary Green Tax on Tourists

July 9, 2012 Taxation in Maldives

Maldives Eyes Voluntary Green Tax MALÉ – Maldives is looking to make the country “carbon neutral” within the next 8 years, and will implement a tax to be voluntarily paid by environmentally conscious tourists to help pay for environmental projects.

While speaking at a press conference on July 8th the Minister of Environment and Energy of the Maldives Mariyam Shakeela described the country’s commitment to becoming “carbon neutral” and elaborated on new tax measures which could be used to help the Maldives achieve this aim.

The Maldives is currently looking to raise tax revenues by USD 100 million in order to fund new programs and initiatives to achieve its goal of becoming carbon neutral by the year 2020. The government is now looking to implement new taxes on foreign tourists in order to meet its objective.

According to M...

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Tax Collections Rising in the Maldives

June 12, 2012 Taxation in Maldives

tax collections in the maldivesMALE – Despite seeing tax collections rise significantly during the last month 12 months, the government of the Maldives is unlikely to see its budget deficit drop in the near future.

Late last week the Inland Revenue Authority of the Maldives released the Monthly Revenue Collection report for the month of May, showing that cumulative tax collections for the month reached MVR 389.6 million (USD 25.35 million) and were approximately 9.5 percent higher than throughout the same period in 2011.

During the month of May T-GST, a sales tax charged in the tourism sector, was the largest contributor to the total national tax collections, accounting for approximately 35.6 percent of total revenues. According to the report, collections of this tax are up by 119...

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