Maldives Projects MVR 43.2 Billion Revenue and Grants for Next Year

The Maldivian government has projected that it will receive MVR 43.2 billion in revenue and grants next year, according to the budget proposal presented to the People's Majlis. The Minister stated that this is an increase of MVR 1.4 billion compared to 2026, with revenue expected to grow further to MVR 46.6 billion by 2028 and MVR 49.7 billion by 2029. To achieve this, the government has decided not to raise any existing taxes but instead focus on improving tax system efficiency, closing loopholes, and enhancing compliance. Plans include introducing a modern e-invoicing system and expanding the use of the 'Maldives Guest Information System'. The budget also includes provisions to amend the fiscal mandate of the Maldives Customs Service and introduce amendments to tax laws to strengthen revenue policy implementation.