Maldives state revenue tops 1.99 bln USD amid tourism rebound, tax reforms

COLOMBO, Oct. 23 (Xinhua) -- The state revenue of the Maldives reached 1.99 billion U.S. dollars by Oct. 16 this year, up 8.5 percent year-on-year, reflecting the combined impact of tax reforms and a strong rebound in tourism, Maldivian state media reported on Thursday.

Tax receipts formed the backbone of this growth, generating 1.49 billion dollars, or 75.1 percent of total revenue and grants, according to the Weekly Fiscal Development Report by the Ministry of Finance and Planning of the Maldives.

Collections from the Green Tax more than doubled, rising 105.3 percent from a year earlier, while revenue from the Departure Tax also climbed, increasing by 56.4 percent, said the report.

Income from the Airport Development Fee rose by 61.0 percent year-on-year, supported by a 10 percent increase in tourist arrivals, it added. Enditem