Green Tax revenue generated for February 2020 declined by 3.5 percent according to Ministry of Finance.
In the ministry's Green Fund Report, Green Tax dropped for the review month in comparison with the same period in 2019. The total revenue earned for the review month, in Green Tax was recorded at MVR77,023,981.14.
The ministry revealed the revenue composition in the Green Fund Report, which showed as follows;
- Revenue from tourist resorts: MVR70,797,120
- Revenue from hotels: MVR1,459,554.42
- Revenue from guesthouses: MVR2,549,700.72
- Revenue from safaris and liveaboards: MVR2,217,606
As per the latest statistics from the ministry the balance of the Green Fund by end of 2019 was observed at MVR782,581,639.01.
The current balance of Green Fund stands at MVR918,274,353.39, with the inclusion of both January and February 2020 earnings minus the expenditure in both months.
The Green Tax revenue in January was recorded at MVR84,925,842.05 and the expenditure for January and February were MVR584,873.27 and MVR25,672,235.54 respectively.
Green Tax is levied on tourist properties for its arrivals, with tourist resorts and hotels charged with USD6 per person and USD3 per person from guesthouses.
There has been a visible decline in arrival figures to the country in light of the viral COVID-19 pandemic, which in turn contributed to the drop in Green Tax figures.
