State revenue reaches MVR 22 billion

Ministry of Finance has revealed that the state revenue has reached MVR 22 billion.

Statistics revealed by the Ministry show that the state had earned MVR 22.2 billion by 06 October, 2022. During the same period last year, the state revenue was at MVR 15.9 billion.

The Ministry's statistics show that income generated from tax currently sits at MVR 15 billion. During the same period last year, the state earned MVR 10.9 billion as tax revenue.

As such, the state received MVR 2.3 billion as General Goods and Services Tax and MVR 5 billion as Tourism Goods and Services Tax, by 06 October.

Statistics reveals that MVR 3.9 billion was generated as Business and Property Tax. This includes MVR two billion generated as Business Profit Tax, MVR 691.2 million as Withholding Tax, MVR 261.8 million as Individual Income Tax and MVR 904.2 million as Other Business and Property Taxes.

Finance Ministry's statistics goes on to show that the state has earned MVR 761.5 million as green tax so far this year.

Additionally, the state has earned MVR 95 million as royalties.

While the sate earned MVR 2.3 billion as Import Duties, statistics show that MVR 615 million was earned as Airport Service Charge.

The state received MVR 6.9 billion as Non-Tax Revenue, according to the Finance Ministry.

This includes MVR 626.9 million earned as airport development fee and MVR 8.5 million as residential permit.

The state also earned MVR 604.2 million as registration and license fees.

Moreover, MVR 1.5 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 196.4 million as fines and penalties so far this year.

In addition to this, the state has also earned MVR 1.8 million as SOE dividend.

Statistics show that Maldivian state received MVR 14.5 million as capital receipts and MVR 271.3 million as Grants, so far this year.