Maldives govt says no more tax hikes
The budget for the upcoming year is set to be presented to parliament by the end of this month.
Attorney General Ahmed Usham announced on Saturday that the government has introduced bills in parliament aimed at increasing revenue and no further bills will be submitted at the time.
During a press conference at the President's Office, Usham responded to a journalist's inquiry about additional bills planned to raise state revenue, stating that the current proposals are the only ones being introduced for the time being.
The government recently proposed amendments to three laws to raise taxes associated with tourism.
Usham clarified, "All the bills that are intended to be introduced [to increase revenue] have been introduced. After further discussion, if we need to introduce another amendment to another law, we will introduce it during this session."
Further questions regarding the next year's budget revealed that preparations are underway. Usham noted that if any additional amendments are necessary, they will be submitted before the end of the current session, which is scheduled to conclude next month.
The budget for the upcoming year is set to be presented to parliament by the end of this month.
Summary of 3 tax hike bills
Airport Development Fee:
-
Increase for foreigners departing in economy class from $30 to $50
-
No change for economy class passengers
-
Increase for business class from $60 to $120
-
Increase for first class departures from $90 to $240
-
Increase for private jets from $120 to $480
Green Tax:
-
Increase for guesthouses (less than 50 rooms) from $3 to $6
-
Increase for resorts, city hotels, and establishments serving tourists with more than 50 rooms from $6 to $12
TGST:
-
Increase from 16% to 17%
-
The change will take effect on June 1 of the next year.
