State revenue reaches MVR 18.7 billion

Ministry of Finance has revealed that the state revenue has reached MVR 18.7 billion.

Statistics revealed by the Ministry show that the state had earned MVR 18.7 billion by 01 September, 2022. This is a MVR 5.8 billion more than the MVR 12.9 billion earned as state revenue during the same period last year.

The Ministry's statistics show that income generated from tax currently sits at MVR 13.8 billion. During the same period last year, the state earned MVR 9.3 as tax revenue.

As such, the state received MVR 2 billion as General Goods and Services Tax and MVR 4.7 billion as Tourism Goods and Services Tax, by September 01.

Statistics reveals that MVR 3.7 billion was generated as Business and Property Tax. This includes MVR 1.9 billion generated as Business Profit Tax, MVR 609.9 million as Withholding Tax, MVR 243.5 million as Individual Income Tax and MVR 904 million as Other Business and Property Taxes.

Finance Ministry's statistics goes on to show that the state has earned MVR 678.8 million as green tax so far this year.

Additionally, the state has earned MVR 65.6 million as royalties.

While the sate earned MVR 2 billion as Import Duties, statistics show that MVR 547.1 million was earned as Airport Service Charge.

The state received MVR 4.8 billion as Non-Tax Revenue, according to the Finance Ministry.

This includes MVR 556.3 million earned as airport development fee and MVR 6.8 million as residential permit.

The state also earned MVR 503.5 million as registration and license fees.

Moreover, MVR 1.1 billion was earned as rent from resorts and MVR 158 million was earned as land acquisition and conversion fee.

Statistics also shows that the state earned MVR 171.9 million as fines and penalties so far this year.

In addition to this, the state has also earned MVR 304.1 million as SOE dividend.

Statistics show that Maldivian state received MVR 11.8 million as capital receipts and MVR 247.2 million as Grants, so far this year.