Maldives: Government raises rates on GST from 6% to 8% in 2023
The Maldives government reportedly increased the current Goods and Services Tax (GST) rates and the Tourism Goods and Services Tax (TGST). This is under the Sixth Amendment Bill of Goods and Services Tax Act (Law Number 10/2011), which passed the 3rd session of the People’s Majlis.
Below table shows the new VAT rates which will take effect starting on 1 January 2023:
| Sector | Old VAT Rate | New VAT Rate |
| Goods and Service Tax (GST) | 6% | 8% |
| Tourism Goods and Services Tax (T-GST) | 12% | 16% |
The increase of the rates is to help the government handle the continuous debt interest costs and global inflation costs.
Source: mira.gov.mv
