MALE, 17 September 2021, (TON): The proposals were penned down in the Ministry’s ‘Medium Term Fiscal Strategy 2022-2024’ which has been submitted to the Parliament.

They are changing the Airport Service Charge and Airport Development Fee rates: The bill on this has been passed by the Parliament and has also been ratified by the President. It will be implemented starting from January 1, 2022.

Real estate tourism/development of new resorts: Dividends would be received from tourism real estate. MVR 100 million is expected to be received from resort development in 2021; MVR 350 million in 2022; MVR 550 million in 2023.

Expatriate quota fee: Estimated to receive revenue from January 2022 onwards

Increasing resident permit fee: Estimated to receive revenue from January 2022 onwards

Sale of land: In planning stages. MVR 150 million is expected to be received in 2021; MVR 525 million in 2022; MVR 825 million in 2023.

Spectrum change: A study to be conducted on spectrum auction with the help of USAID. MVR 60 million is estimated to be received in 2022.

Congestion charge/parking fee: At planning stage – but expected to be implemented by this year. MVR 9 million is estimated to be received in 2021; MVR 73.2 million in 2022.

As per the report, the Ministry is estimating a budget of MVR 37 billion for next year. The medium-term baseline budget includes the projected expenditure on existing recurrent programs and activities, and the expenditure on ongoing projects.