Budget 2025 introduces new fee from telecom companies
Among the proposed measures is the introduction of a frequency spectrum charge to maintain the country’s radio frequency spectrum.
Top Stories
-
Maldives, Pakistan agree to increase trade to $200M in 2 years
-
Govt appoints 3 directors to boards of state-owned companies
-
'Israelis will be barred from acquiring Ras Malé property'
-
Parliament approves MVR 133M for Auditor General's Office
-
Maldives submits bill to abolish tax on foreign tour operators
Proposed state budget for the coming year includes plans to impose an additional fee on communication service providers, alongside other policies aimed at increasing dollar-denominated revenues to improve fiscal and debt sustainability.
Among the proposed measures is the introduction of a frequency spectrum charge to maintain the country’s radio frequency spectrum. The budget notes that the fee will come into effect next year, though specific revenue from the measure has not been included in the projections.
Other revenue-boosting measures outlined in the budget include:
-
Imposing additional fees on private companies undertaking land reclamation projects.
-
Reforming the tax system to include goods and services currently exempt from Goods and Services Tax (GST).
-
Increasing import duties on items such as cigarettes and bidi through legislative amendments.
-
Raising the rates of the Green Tax and Tourism GST (TGST), with necessary legal changes already in place.
The total proposed budget for next year is MVR 40 billion, of which MVR 29 billion is expected to be generated through taxes.
