Tue, 26 Nov 2024

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DHIVEHI

Maldives Green Tax revenue set to hit MVR 2B in 2025

14 Nov 2024

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MM News Team

Photo: Yafiu Ibrahim/Unsplash

The Government plans to double its Green Tax rates from January 2025, with standard rates increasing from USD 6 to USD 12 and reduced rates from USD 3 to USD 6. The environmental levy, which applies to tourists staying at various accommodations including resorts and hotels, is expected to generate MVR 2 billion in 2025, marking a 95.2% increase from the current year. The significant revenue boost is attributed to both the tax rate increases and projected growth in tourism sector occupancy rates.

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