Maldives tourism GST receipts up 37% in first quarter

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The tax authority collected MVR2.35 billion (US$152 million) as T-GST from January to March 2022, up 37% from the same period last year.

The goods and services tax from the tourism sector accounted for 39% of total revenue.

Total tax revenue in the first quarter of 2022 stood at MVR4.8 billion, up from MVR3.3 billion in Q1 2021. Green tax receipts – levied on tourists at a flat rate of US$6 per day of stay – were MVR292 million in this year’s first quarter.

A total of MVR1.1 billion was collected as non-tax revenue in Q1 2022, including MVR648 million as tourism land rent, MVR178 million from the airport development fee, MVR76.5 million in lease period extension fees, and MVR1.9 million as tourism registration and license fees.

Total revenue in March was MVR2.18 billion – inclusive of US$106.71 million collected in US dollars – which represented an increase of 64.2% compared to March 2021. The tax authority attributed the growth to higher tourism-related taxes as arrivals increased compared to last year.

A total of 431,511 tourist arrivals were recorded from January to March 2022, up from 298,570 holidaymakers in the same period last year.