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Maldives Budget
The fiscal system in Maldives has been described as
rudimentary; the country has no income tax. Tax revenues
are
derived from customs duties, a tourist/airport tax, and
property
taxes. Major sources of nontax revenues are derived from
the
State Trading Organization, rentals of islands to tourist
resorts, and boat licensing fees.
Maldives has experienced a budget deficit since the
1980s,
when more accurate accounting data became available.
Government
revenues in 1984 totaled Rf205.4 million. In 1992
government
revenues rose to Rf1.02 billion, whereas expenditures
totaled
Rf1.5 billion. Of these expenditures, education received
Rf223
million, atoll development projects Rf362 million,
security Rf117
million, and health Rf111 million.
Data as of August 1994
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