The Green Fund received MVR 88.91 million in Green Tax revenues from tourists during the first nine months of 2024, according to the Finance Ministry’s September report.
Breakdown of Green Tax Contributions:
- Resorts: MVR 80.7 million
- Guesthouses: MVR 4.79 million
- Tourist hotels: MVR 2.11 million
- Safaris: MVR 1.25 million
Environmental Project Expenditures:
From the total funds collected, MVR 57.65 million was allocated to environmental projects, including efforts to combat erosion, improve waste management, and enhance drainage systems. The largest expenditure, MVR 38.8 million, was for addressing erosion in Shaviyani Atoll Komandoo.
Remaining Balance and Tax Rates:
After project expenses, the Green Fund retains a balance of MVR 31.26 million. Currently, Green Tax rates are set at:
- USD 6: For establishments with 50 or more rooms (resorts, hotels, tourist vessels, and guesthouses).
- USD 3: For establishments with fewer than 50 rooms.
Upcoming Tax Increase:
Starting in 2025, the Green Tax will double to USD 12 for larger establishments and USD 6 for smaller ones.
