Maafushi, Maldives – Ministry of Finance has revealed that Maafushi island alone accounts for MVR 20 million in tax earnings for the country last year..
According to Maldives Inland Revenue Author enclosed in Finance Minister Ibrahim Ameer’s written answer to MP Ibrahim Rasheed’s inquiry regarding Green Tax and TST amounts yet to be received by the government, the largest amount in tax was received via Maafushi when considering individual islands.
Maafushi, which currently operates the most number of guesthouses in the country generated MVR 16.4 million in TGST, while MVR 544,857 and MVR 3.5 million were generated as Green Tax and GST respectively.
Over the past three years, Maafushi has maintained similar pattern in being the highest tax generating island of the country. This is on the account that the island generated MVR 19.8 million as TGST, while MVR 621,480 was earned as Green Tax in 2019. In 2020, MVR 5 million and MVR 189,402 were earned as TGST and Green Tax in the island respectively.
Maafushi, being one of the top performers in the country when it comes to the local tourism arena, the island’s council has revealed that around USD 73 million enters the island on a yearly basis.
TGST was introduced in the Maldives in 2011, which requires 12 percent of tourism related earnings to be paid to the government. Meanwhile, Green Tax came to effect in 2015, which requires a daily rate of USD 6 to be collected from all tourists in the country.
