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