State Budget 2023: MVR 10.4 billion projected as Green Tax revenue
The Ministry also noted that the Green Tax revenue 2022 will exceed that of 2021 as well
The proposed budget estimates that the number of nights tourists spend in the Maldives will be increasing annually
Ministry of Finance has projected MVR 10.4 billion as Green Tax revenue for 2023.
Minister of Finance, Ibrahim Ameer on Monday, presented the proposed stated budget for 2023.
The proposed budget estimates that the number of nights tourists spend in the Maldives will be increasing annually. As the Green Tax revenue depends on the number of days tourists stay in the Maldives, it is estimated that the Green Tax revenue will continue to increase next year.
Additionally, the proposed budget highlights that the decision to take USD 06 per night from tourists who visits hotels and guesthouses will also lead to an increase in the Green Tax revenue.
The proposed state budget for 2023 notes the improvements seen in the tourism sector of the country during 2021. As such, Finance Ministry had highlighted that the Green Tax revenue of 2021 is a 0.13 percent increase from the revenue generated from Green Tax in 2022.
Highlighting that the Covid-19 pandemic affected the tourist arrival and stay in Maldives, Finance Ministry noted that the Green Tax revenue generated in 2021 is still less than that of 2019 as the tourist arrival did not reach the pre-pandemic level.
However, the Ministry noted that the Green Tax revenue for 2022 is estimated to increase compared to 2019 as tourist arrival and stay in Maldives has exceeded the pre-pandemic numbers.
The Ministry also noted that the Green Tax revenue 2022 will exceed that of 2021 as well.
