State Budget 2020: gov't to introduce quota fees for expatriates

The Ministry of Finance has proposed to include a quota fee for expatriates in line with the introduction of the income tax system under the proposed state budget for the upcoming year.

Some of the new plans included under the proposal for increasing income are expected to bring in MVR 2.6 million as state income.

While 28 percent of this has been allocated to introduce a quota fee for expatriates and to increase the work permit fee, 27 percent has been allocated to introduce the income tax system.

Reading out the proposal at Monday’s sitting, Finance Minister Ibrahim Ameer stated that they will begin implementing a policy to take income tax in order to better the tax system. As such, it will be a progressive system where the government will take a bigger tax from those who earn more.

Some of the introductions to increase income under the proposal include amending the rates for airport service charges and airport development fees, changing the import duty rates for some products as well as the fees taken by the Maldives Customs Service.

An acquisition cost of MVR 290 million has also been allocated for leasing land for resort development, under the proposal.