Over USD 64 Million from Green Tax in the First Half of 2023, Reports Finance Ministry 

The Ministry of Finance has disclosed that the Maldives has received over USD 64.8 million in Green Tax revenue within the initial six months of 2023.

According to the latest Green Fund Report issued by the Finance Ministry, the nation has successfully generated a combined total of USD 65.4 million through a culmination of funds carried over from the previous year’s end and the proceeds stemming from Green Tax collections throughout the first half of the current year.

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The report also elucidates the progressive inflow of resources into the Green Fund, recording an influx of USD6.5 million in January, USD 5.9 million in February, USD 6.8 million in March, USD 6.1 million in April, USD 5.3 million in May, and USD 3.2 million in June.

The inception of the Green Fund dates back to 2016, aligning with the objectives set forth by the Maldives’ Tourism Act to address ecological concerns. The mechanism entails a Green Tax of USD 6 imposed on each tourist per day spent at a resort or hotel within the Maldives, while a fee of USD 3 is levied for each day’s stay at a guesthouse. 

The revenue generated from this initiative is allocated towards projects encompassing coastal safeguarding, water provisioning, waste management, and sewage infrastructure development across diverse regions of the nation.