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Earnings of the Maldivians no longer suit their expenditure

FI

Published

1 year ago

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By: Fathimath Lauza

The government has received MVR 21 billion in revenue so far this year while expenditure has reached MVR 28 billion. According to the Finance Ministry, the government received MVR 21.22 billion as of October

Taxes accounted for 72 percent of the revenue. 28 percent is non-tax revenue and aid. According to the Finance Ministry, tax revenue stood at MVR 15.2 billion so far this year. Tax revenue is estimated at MVR 15.3 billion this year.

Non-tax revenue stood at MVR 5.8 billion while aid stood at MVR 271.8 million.

The highest tax revenue
● GST –including General GST and TGST—MVR 7.4 billion
● Business and Property Tax – MVR 3.9 billion
● Import duty – MVR 2.4 billion

The highest non-tax revenue
● Fees and charges – Two billion

● Property Income – MVR 1.7 billion

Recurrent expenditure stood at MVR 21.2 billion so far this year while capital expenditure stood at MVR 7.7 billion. Salaries and allowances amounted to MVR 8.2 billion so far this year, while administrative and operating expenses amounted to MVR 12.9 billion. MVR 2.5 billion has been spent on loan repayments while MVR 4.7 billion has been spent on Public Sector Investment Program (PSIP) projects this year.

Tax money is being collected from small and big businesses, but it is a sad fact today that the amount of tax money is being increased year after year on the grounds of higher government expenditures and this is affecting ordinary people the most. The biggest proof of this is that with every change in GST, there are huge changes in the prices of commodities and food items.

However, it is a worrying fact that the income of the people does not match the expenditure. Similarly, Maldives imports a relatively large amount of food and livestock from other countries and the prices of goods are rising as import taxes are increased.

Is it most desirable to raise taxes in this way when even small businesses have not recovered from the damage caused by the COVID situation?

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Nasheed to form new party

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Published

12 months ago

on

17/05/2023

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The main ruling Maldivian Democratic Party (MDP)’s leader Mohamed Nasheed has decided to form a new political party.

Nasheed initiated a separate political movement within MDP, ‘Fikuregge Dhirun’, following his loss in MDP’s presidential primary held back in January. After major conflicts with the government and its policies – all lawmakers from the faction tendered their resignation from MDP on Wednesday.

The move came after Central Henveiru MP Ali Azim was expelled from the party on Tuesday and banned from rejoining for at least one year over involvement in opposition political activities surrounding the Chagos archipelago dispute.

The 12 members who resigned from MDP on Wednesday are;

Parliament’s Deputy Speaker, North Galolhu MP Eva Abdulla
Ungoofaaru MP Mohamed Waheed (Wadde)
North Maafannu MP Imthiyaz Fahumy (Inthi)
West Henveiru MP Hassan Latheef
Hulhudhoo MP Ilyas Labeeb
North Kulhudhuffushi MP Yasir Abdul Latheef
Vilufushi MP Hassan Afeef
Central Maafannu MP Ibrahim Rasheed (Bonde)
Madaveli MP Hussain Firushan
Thoddoo MP Hassan Shiyan (Gita)
North Mahchangoalhi MP Mohamed Rasheed (Boadhigu)
Gadhdhoo MP Ahmed Zahir
All 12 members are close acquittances of Nasheed. MP Hassan Latheef, during a meeting at Bodufenvalhuge on Wednesday, announced Nasheed’s decision to form a new political party. The meeting was attended by supporters of Nasheed.

Should Nasheed form a new political party, that party would be the largest opposition party in terms of members in the parliament, thereby, the minority party. The minority party at present, opposition PPM-PNC coalition has only eight members in the parliament.

Despite the resignation of the 12 MPs, President Ibrahim Mohamed Solih continues to hold full control of the Parliament with 56 MPs.

Source(s): sun.mv

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MPs loyal to Nasheed leave MDP

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Published

12 months ago

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17/05/2023

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Multiple members of the main ruling Maldivian Democratic Party (MDP) loyal to the party’s leader Mohamed Nasheed have left the party.

The members who resigned from MDP include 12 MPs. They include Deputy Speaker Eva Abdulla, MP Mohamed Waheed, MP Imthiyaz Fahmy (Inthi), MP Hassan Latheef, MP Ilyas Labeeb, MP Yasir Abdul Latheef, MP Hassan Afeef, MP Ibrahim Rasheed (Bonde), MP Hussain Firushan, MP Hassan Shiyan, MP Mohamed Rasheed (Boadhigu), and MP Ahmed Zahir.

They submitted their resignation letters Wednesday.

The move comes after MDP’s parliamentary group had requested action against Inthi, Hassan Latheef, Ilyas, Yasir, and Central Henveiru MP Ali Azim earlier this week, for forming an alliance with the opposition Progressive Party of Maldives (PPM), Jumhoory Party (JP) and Maldives National Party (MNP), after accusing the government of failure to protect the interests of the Maldivian people in the case lodged with the International Tribunal of the Law of the Seas (ITLOS) over the disputed maritime territory between Maldives and Mauritius.

The party’s disciplinary committee decided to expel Azim from the party on Tuesday.

They are all members of Nasheed’s ‘Fikuregge Dhirun’ faction.

However, Nasheed has yet to resign from the party.

Despite the resignation of the 12 MPs, President Ibrahim Mohamed Solih continues to hold full control of the Parliament with 56 MPs.

Source(s): sun.mv

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The Cambodian Prime Minister arrives in the Maldives on an official visit

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Published

1 year ago

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15/01/2023

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The Prime Minister of the Kingdom of Cambodia, Samdech Akka Moha Sena Padei Techo Hun Sen, arrived Sunday morning on an official visit to the Maldives at the invitation of H.E. President Ibrahim Mohamed Solih. It is Samdech Techo Prime Minister Hun Sen’s first visit to the Maldives.

The Cambodian Prime Minister and accompanying delegation were received at Velana International Airport (VIA) by the Minister of Foreign Affairs, Abdulla Shahid (ODRI). The government will hold a ceremony on Monday to officially welcome the Cambodian Prime Minister to the Maldives.

During the visit, President Solih would meet with Samdech Techo Prime Minister Hun Sen and hold official talks on strengthening bilateral cooperation, followed by the exchange of memoranda of understanding (MoUs) between the two countries. President Solih and the Cambodian Prime Minister would also deliver a joint statement on the outcomes of their discussions.

The Maldives and Cambodia established diplomatic relations on September 21, 1995.

Source(s): President Office.

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