The Ministry of Finance has reported that the Green Fund recorded an increase of MVR 1.02 billion by the end of August this year.
According to the Green Fund Report released by the Ministry of Finance, MVR 686 million was deposited to the fund, while expenses are recorded at MVR 436 million. The current balance of the fund stands at MVR 1.02 billion, including the remainder from the previous fiscal year and total revenue collected from Green Tax in the first eight months of the current fiscal year.
The Green Tax collection for the first eight months is as follows:
- January: MVR 100.7 million
- February: MVR 91.8 million
- March: MVR 105.4 million
- April: MVR 94.9 million
- May: MVR 83.0 million
- June: MVR 50.2 million
- July: MVR 91.0 million
- August: MVR 69 million
The Green Fund has been providing funding for a range of environmental development initiatives, such as waste management, coastal protection, and improvements in water and sanitation.
Expenditure from the Green Fund during the first eight months is detailed as follows:
- January: MVR 74.5 million
- February: MVR 66.0 million
- March: MVR 77.4 million
- April: MVR 35.8 million
- May: MVR 7.6 million
- June: MVR 26.2 million
- July: MVR 69.9 million
- August: MVR 78 million
A major contributor to the fund is the Green Tax, which is imposed on visitors in integrated tourist resorts, resort hotels, and tourist vessels at a rate of USD 6 per day. Furthermore, lodgings in residential areas with more than 50 registered rooms are subject to a daily fee of USD 6, whereas lodgings with fewer than 50 rooms are only charged USD 3.
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