Maldives Parliament on Wednesday, 16th November passed the bill proposing hike in GST.
In a bid to boost state earnings, Ministry of Finance earlier proposed hiking General Goods and Services Tax (GGST) and Tourism Goods and Services Tax (TGST). A total of 55 lawmakers voted in favor of the bill, which was submitted to the parliament by ruling party MP from Ihavandhoo constituency Mohamed Shifau – 26 of the present lawmakers voted against passing the bill.
With this tax surge, GGST will bump to 8% from 6% and TGST will increase from 12% to 16%.
Earlier, parliamentary committee that examined the tax amendment bill rejected proposed amendments. However, the proposal sent by the government was passed on 31st October 2022.
