Presenting the 2027 budget to the Parliament today, the Minister said this is an important step towards building a generation of self-reliant and productive young entrepreneurs.
Finance Ministry
The Minister of Finance and Public Enterprises, Hassan Zareer, has said that the 2027 budget will include provisions of funds for SME startups to make the youth job creators instead of job seekers.
Presenting the 2027 budget to the Parliament today, the Minister said this is an important step towards building a generation of self-reliant and productive young entrepreneurs.
The Minister said that small and medium enterprises are the backbone of the economy and every small business will be backed with the intention of building a bright future and accelerating the pace of the Maldives' economy. Therefore, to assist small and medium enterprises to ease the tax compliance burden and enhance their growth and role in the economy, the annual income threshold for GST registration will be increased from MVR 1 million to MVR 1.5 million with effect from 01 January.
