Government Proposes Real Estate Tax on Resort Timeshares

The Maldives government proposed an amendment to the Tourism Act to replace the Tourism Goods and Services Tax (TGST) on timeshare properties with a 4% real estate tax. The amendment was submitted by MP Ahmed Easa and had its first reading in parliament on Thursday. The government had gazetted the application of TGST to timeshares just two weeks prior. Under the proposal, TGST will still apply when a guest other than the owner occupies the timeshare.

The Maldives government proposed an amendment to the Tourism Act to replace the Tourism Goods and Services Tax (TGST) on timeshare properties with a 4% real estate tax. The amendment was submitted by MP Ahmed Easa and had its first reading in parliament on Thursday. The government had gazetted the application of TGST to timeshares just two weeks prior. Under the proposal, TGST will still apply when a guest other than the owner occupies the timeshare.

The Maldives government proposed an amendment to the Tourism Act to replace the Tourism Goods and Services Tax (TGST) on timeshare properties with a 4% real estate tax. The amendment was submitted by MP Ahmed Easa and had its first reading in parliament on Thursday. The government had gazetted the application of TGST to timeshares just two weeks prior. Under the proposal, TGST will still apply when a guest other than the owner occupies the timeshare.

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