The Ministry of Finance has reported that the state’s green tax revenue amounted to MVR 92.6 million in October 2023.
According to Finance Ministry statistics, most of this revenue, totalling MVR 84.7 million, originated from tourists staying at resorts during the month. Additionally, MVR 4.6 million was generated from tourists in guest houses and MVR 1.7 million from those in tourist hotels. Live-aboard vessels contributed MVR 1.6 million to the green tax in October.
Homestays contributed MVR 5,557 to the green tax during the month, while expenditures from the green fund totalled MVR 27.4 million in October.
In January 2023, green tax revenue was MVR 100.7 million, with MVR 74.8 million spent from the fund. February saw MVR 91.9 million generated in green tax and MVR 66 million spent. In March 2023, the state generated MVR 105.4 million in green tax, spending MVR 77.5 million from the fund.
April 2023 saw MVR 94.9 million generated in green tax, with MVR 35.8 million spent. May 2023 generated MVR 83 million in green tax, and MVR 7.6 million was spent from the fund. In June, MVR 50.2 million was generated as green tax, with MVR MVR 6.3 million spent from the fund.
July 2023 brought in MVR 91 million in green tax, and MVR 69.9 million was spent from the green fund. In August 2023, the state generated MVR 69.5 million in green tax, spending MVR 78.3 million from the green fund. September 2023 saw MVR 53.5 million generated in green tax, with MVR 27.4 million spent from the fund.
Ministry of Finance statistics reveal that the state generated MVR 972 million in green tax in 2022. January saw MVR 95.2 million generated, followed by MVR 91.4 million in February, MVR MVR 96.6 million in May, MVR 70.8 million in June, and MVR 61.4 million in July.
Furthermore, MVR 73 million was generated in August, followed by MVR 77.7 million in September. October 2022 recorded MVR 61.7 million in green tax, and November brought in MVR 76 million, with MVR 75.8 million in December 2022.
The statistics also highlight that the state spent MVR 778.6 million from the Green Fund in 2022. January witnessed MVR 11.8 million in expenditures and MVR 107.8 million in February. March saw MVR 140.5 million spent from the Green Fund, with MVR 59.7 million in April.
May saw MVR 356.8 million spent from the green fund and MVR 51.9 million in June 2022. The state spent MVR 23.9 million in July, MVR 107 million in August, MVR 32.4 million in September, and MVR 154.9 million in October from the green fund.
The statistics further indicate that MVR 51.4 million was spent from the green fund in November 2022 and MVR 129.6 million in December 2022. Expenditure from the green fund primarily supported projects such as establishing sewer systems, coastal protection, land reclamation and revetment, water and sewerage systems, and water supply networks.
As of the end of 2021, the fund had a balance of MVR 708.2 million. By the end of 2022, the balance stood at MVR 774 million. As of October 2023, the green fund balance is at MVR 1.1 billion.
Green tax, initiated in 2016 in the Maldives, is imposed on tourists in resorts, hotels, and vessels. The rates are set at 6 United States Dollars per day for resorts, hotels, and vessels and 3 United States Dollars per day for guesthouses. Maldivians and resident permit holders are exempt from paying Green Tax.
