The Government expects to generate MVR 43.2 billion in revenue and grants in 2027, an increase of MVR 1.4 billion compared with 2026.

Presenting the proposed 2027 State Budget to the People’s Majlis, Minister of Finance and Public Enterprises Hassan Zareer said government revenue is projected to rise to MVR 46.6 billion in 2028 and MVR 49.7 billion in 2029.

The Minister said the Government does not plan to increase any existing taxes next year. Instead, efforts will focus on improving tax administration, closing loopholes and strengthening compliance with tax laws and regulations.

As part of these efforts, the Government plans to introduce a modern e-invoicing system, expanding the use of the Maldives Guest Information System to strengthen tax administration in line with international best practices.

The proposed measures are intended to improve revenue management and ensure the full collection of taxes due to the State.

The budget also includes plans to strengthen revenue policy implementation, enhance compliance and amend tax legislation. The Government also plans to transfer the fiscal mandate of Maldives Customs Service to the Ministry of Finance and Public Enterprises.