Business Governance

More than MVR 300 million accumulated in Green Fund

The Green Fund which collects taxes charged in the form of Green Tax from tourism establishments throughout the country has MVR 305.6 million according to the statistics released by the Finance Ministry.

The statistics released by the Finance Ministry every month showed that by the end of June the fund had received MVR 458.9 million and around MVR 153.3 million was spent on different projects throughout the country, leaving around MVR 305.6 million in the fund.

The statistics show that projects initiated with funds from the Green Fund cost MVR 37.74 million. The biggest project funded from the Green Fund was the water plant and storage tank installed in Alif Alif atoll Rasdhoo, which cost around MVR 7.5 million. The next biggest expenditure was on projects aimed at providing clean drinking water and safe waste disposal projects in different parts of the country. These projects cost MVR 7.03 million.

The funds were also used for sewerage systems, water plant installations, waste disposal, and coastal protection projects.

The collection of Green tax was first started in 2015 and collects USD 6 from every tourist who spends their holiday at a resort. In 2016, a tax amount of USD 3 was started to collect from guesthouse tourists as well.

MVR 52.14 million was collected as Green Tax from resorts while MVR 1.73 million was collected from guesthouses. MVR 1.06 million was collected from hotels while safaris paid MVR 1.53 million as Green Tax.

Establishments located in Male’ atoll area contributed the most to the fund with MVR 19.77 million. Alif Dhaalu Atoll contributed MVR 6.84 million and Alif Alif Atoll paid MVR 5.12 million and Lhaviyani Atoll paid MVR 4.36 million.

While the state gained MVR 458.89 million as Green Tax, it amounts to 5.2 per cent of the total income of the state.

Full details are available at the link below:

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Source URL: Sun.mv

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