Committee recommends increasing 2014 budget to MVR18 billion
18 Dec 2013, 9:10 PM
Zaheena Rasheed
The People’s Majlis Budget Committee has recommended raising the proposed 2014 state budget from MVR17.5 billion (US$ 1.1 billion) to MVR18 billion (US$1.2 billion) despite concerns over prospective revenue raising measures.
The latest recommendations will have to pass on the Majlis floor, with the final report being sent to People’s Majlis Speaker Abdulla Shahid on December 21.
President Abdulla Yameen proposed a record MVR17.5 billion budget shortly after assuming power. The budget has a projected deficit of 2.2 percent, with over MVR3 billion (US$ 224 million) is to set to come from new revenue raising measures that require amendments to legislation.
These measures include hiking Tourism Goods and Services Tax (T-GST) from 8 to 12 percent, revising import duties, a continuation of the tourism bed tax, raising airport departure charge for foreign passengers from US$18 to US$25, leasing 12 islands for resort development, introducing GST for telecommunication services, and charging resort operators in advance for resort lease extensions.
Become a member
Get full access to our archive and personalise your experience.
Already a member?
Discussion
No comments yet. Be the first to share your thoughts!
No comments yet. Be the first to join the conversation!
Join the Conversation
Sign in to share your thoughts under an alias and take part in the discussion. Independent journalism thrives on open, respectful debate — your voice matters.
