Finance Minister Hassan Zareer announced today that the government will not increase any existing taxes in the coming year for the purpose of increasing revenue. 

Presenting the proposed State Budget for 2027 in parliament today, Minister Zareer said that next year, State revenue will be increased through improving the efficiency of the tax system. Tax-related loopholes will be identified and shut down, and enforcement of laws and regulations will be strengthened, he said. 

The proposed budget for 2027 projects that MVR 43.1 billion will be received through tax revenue and free aid. Of this, MVR 33.6 billion is expected to be tax revenue. 

Zareer stated that utilization of the Maldives Guest Information System introduced this year will be further expanded,  and a modern e-invoicing system will be introduced to strengthen the tax system in line with international best practices. 

"These measures will contribute towards strengthening administrative maintenance of revenue records, and better ensuring the State receives due taxes. To expedite efforts to enforce revenue policies and increase compliance, this budget proposes transferring the Maldives Customs Service's fiscal mandate under this ministry's oversight, and to bring necessary amendments to tax laws," Zareer announced. 

While the government has announced that there will be no tax increases in the coming year, the most major changes to taxes were last brought in 2024 and 2025. In November 2024, the Airport Development Fee and Departure Tax were increased. In January last year, the Green Tax was also raised. July 2025 also saw TGST increased to 17 percent. 

Last month, an amendment was brought and ratified to the tax laws, mandating TGST be charged to foreign tour operators and travel agents. However, this has since been halted following strong resistance from tour operators. 

The proposed budget for 2027 quotes a total of MVR 59.7 billion, which is MVR 4.5 billion lower than this year's budget.