Malé, Maldives – Parliament votes to go ahead with government’s proposal to increase GST and TGST.
The government had proposed to increase GST and TGST from January next year. Amendment proposes that TGST to be increased from 12 percent to 16 percent and GST from 6 percent to 8 percent.
55 members voted in favor of the bill while 26 members voted against it today.
This comes while pro-government MPs have expressed their dissatisfaction with the Speaker of Parliament after the tax hike bill was not voted on in the last two days.
The bill will come into force after the President ratifies the bill.
The governments reason for the tax increase is to increase the revenue received by the state to cover the recurrent expenditure.