Govt Initiates Discussions on Increasing GST and TGST

The government of Maldives has commenced discussions with relevant parties regarding increasing the Goods and Service Tax (GST) and Tourism Goods and Service Tax (TGST).

Discussions are being held with stakeholders to draft a fiscal strategy, and the proposed changes by the government are to be publicised soon.

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According to various sources, the government is proposing to increase the GST from 6 to 8 percent, and the TGST from 12 to 16 percent. The government is discussing to make this change within the next six months.

GST and TGST are two of the most significant sources of state revenue. An increase in these taxes will lead to an increase in the price of goods and services.

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