Industry
Tourism tax and green tax revenue both rise so far this year
Tourism GST brought in MVR 8.87 billion to 22 October, up 5.7 per cent, according to the Finance Ministry's latest weekly fiscal report.
Industry · 2026-11-11 · Drafted with AI assistance and edited by the newsroom
Tourism goods and services tax (TGST) revenue rose 5.7 per cent to MVR 8.87 billion in the year to 22 October 2026, and green tax revenue rose 2.6 per cent to MVR 1.78 billion, according to the Ministry of Finance and Public Enterprises' weekly fiscal report as reported by the Maldives Financial Review.
Total revenue and grants reached MVR 33.36 billion, up 5.6 per cent, helped by a 9.8 per cent rise in tax revenue. Business and property taxes rose 21.8 per cent to MVR 5.97 billion. Resort rentals and airport development fees were also higher, though overall non-tax revenue fell 9.5 per cent.
Spending rose 17 per cent to MVR 37.21 billion, including subsidies up 58.6 per cent to MVR 4.31 billion because of higher fuel prices linked to unrest in the Middle East. The government recorded a primary surplus of MVR 0.27 billion and an overall deficit of MVR 3.85 billion.