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International Monetary Fund. Fiscal Affairs Dept.

, as they become available. Update the GST model with the 2017 the SUT data, as they become available. Revisit the assumptions of the GST model, especially about taxable shares of goods and services in each industrial sector; effective GST rates by commodity, and growth projections of the SUTs. Summary of Estimates of TEs 2019 2020 MVR mln percent of total tax collected MVR mln percente of total tax collected BPT Total BPT TEs 284 1.7% 60 0.7% 5 percent tax rate 0 0.0% Not applicable

International Monetary Fund. Fiscal Affairs Dept.
The Maldives has identified the estimation and regular reporting of tax expenditures (TEs) as one of the top priority areas in continuing its tax modernization process. TEs are alternative policy tools (e.g., to direct transfers and other spending measures) in the form of provisions in the tax legislation that modify the tax liability of individuals or companies. The cost of TEs should be identified, measured, and publicly reported to improve transparency in fiscal management.