State generates MVR 96.6 million as green tax in May

Statistics revealed by the Ministry of Finance Show that the government generated MVR 96.6 million as green tax in May, 2022.

The latest statistics publicized by the ministry show that the government generated MVR 476,178,032.03 as green tax during the first five 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, MVR 87,253,884.94 in April and MVR 96,586,761.51 in May. While the most amount was generated in March, April showed a drastic decrease compared to the amount generated in March. However, statistics shows that the state generated more green tax in May, compared to April.

Additionally, the statistics also show that the state has spent MVR 356,789,428.11 from the Green Fund, during the first five months. While, MVR 11,827,393.44 was spent during January, MVR 107,823,050.44 was spent in February. The state spent MVR 140,501,400.96 from the Green Fund during March and MVR 59,689,808.03 in April. During May, MVR 356,789,428.11 was spent from the green fund.

During May, most of the green tax was generated from tourists visiting the resorts, with a total of MVR 90,911,209.32 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 other works.

By the end of 2021, the fund had a balance of MVR 708,231,147.37. With inflows and outflows during the first five months of 2022, the balance now stands at MVR 827,619,751.29.

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.