Over MVR 3 bln received as TGST

Maldives Inland Revenue Authority (MIRA) has said the state received MVR 3 billion as Tourism GST and MVR 921 million as tourism land rent.

Statistics released by the ministry show MVR 3 billion was received as TGST by the end of June. This is a significant increase compared to the amount received during the same period last year. The Maldives received MVR 1.6 million as TGST during the same period last year when the country's tourism sector was most affected by the COVID-19 pandemic.

MIRA said MVR 921 million was received from resorts as tourism land rent by the end of June. MVR 366 million was received during the same period last year.

MIRA also shared details of revenue generated through other tourism-related taxes. In this regard, MVR 398 million was received as Green Tax while MVR 18 million was received as Land Acquisition Fee.

The revenue generated through tourism-related taxes has increased due to improvements in the tourism sector. Over half a million tourists have visited the country thus far this year.