Green Fund balance at MVR 767 million by the end of April

Statistics revealed by the Ministry of Finance Show that the balance of Green Fund is at MVR 767,980,765.02 by the end of April.

The latest statistics publicized by the ministry show that the government generated MVR 379,591,270.52 as green tax during the first four months of 2022.

As such, MVR 95,193,759.88 was generated in January, followed by MVR 91,437,790.42 in February, MVR 105,705,835.28 in March and MVR 87,253,884.94 in April. While the most amount was generated in March, April showed a drastic decrease compared to the amount generated in March.

Additionally, the statistics also show that the state has spent MVR 319,841,652.87 from the Green Fund, during the first four months. While, MVR 11,827,393.44 was spent during January, MVR 107,823,050.44 was spent on February. The state spent MVR 140,501,400.96 from the Green Fund during March and MVR 59,689,808.03 in April.

During April, most of the green tax was generated from tourists visiting the resorts, with a total of MVR 81,294,904.60 generated during the month.

Expenditure from the green fund was mostly for projects such as establishment of sewer systems, coastal protection, land reclamation and revetment, water and sewerage systems as well as water supply networks among several others.

By the end of 2021, the fund had a balance of MVR 708,231,147.37. With inflows and outflows during the first four months of 2022, the balance now stands at MVR 767,980,765.02

Green tax is a tax payable by tourists who stay in tourist resorts, tourist hotels and tourist vessels. Maldives began collecting Green Tax during 2016.

Green tax is payable at the rate of 6 United States Dollars per day of stay from tourist resorts, tourist hotels and tourist vessels, and 3 United States Dollars per day of stay from tourist guesthouses.

Maldivians and resident permit holders are not required to pay Green Tax.