Maldives to Introduce Frequency Spectrum Charge as Part of Revenue Measures

The government plans to introduce a frequency spectrum charge next year as part of its efforts to increase state revenue and manage fiscal and debt obligations.

The new fee, aimed at maintaining the country’s radio frequency spectrum, will be implemented through amendments to existing laws and regulations. However, the proposed budget does not detail the expected revenue from this charge.

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The government’s budget for 2024 projects a total revenue of MVR 40 billion, with MVR 29 billion anticipated from taxes. To support this target, several tax and fee increases are planned, including higher rates for the Tourism Goods and Services Tax (TGST), green tax, and airport tax. Import duties on cigarettes will also see a rise, following the passage of necessary legal amendments.

Additionally, the government will impose extra fees on land reclamation projects as part of its broader strategy to enhance revenue streams.