Airport taxes and fees generate MVR 3.3 billion for the state

The Ministry of Finance has reported that airport tax and fees generated MVR 3.3 billion in revenue for the state, an increase compared to the same period last year. According to the 'Weekly Fiscal Development' report, MVR 1.64 billion was collected as departure tax as of the end of last month, a 6.4% increase from MVR 1.54 billion in the same period last year. Revenue from the airport development fee also rose to MVR 1.68 billion, a 7.6% increase from MVR 1.56 billion collected during the same period last year. In total, the state received MVR 3.32 billion from these two sources, reflecting a 6.8% increase year-on-year. The departure tax was first levied on January 1, 2022, while the airport development fee has been collected since May 1, 2017. Exemptions apply to diplomatic personnel, transit passengers, and children under two for the departure tax, and to diplomatic personnel and direct transit passengers for the airport development fee. Revenue from the airport development fee is deposited into the Sovereign Fund of the Maldives, along with dividends from MACL's share profits and additional revenue from increased airport service fees.