State revenue reaches MVR 22.3 billion

Ministry of Finance has revealed that the state revenue has reached MVR 22.3 billion.

Statistics revealed by the Ministry show that the state had earned MVR 22.3 billion by 27 October 2022. During the same period last year, the state revenue was at MVR 16.5 billion.

The Ministry's statistics show that income generated from tax currently sits at MVR 16 billion. During the same period last year, the state earned MVR 11.7 billion as tax revenue.

As such, the state received MVR 2.5 billion as General Goods and Services Tax and MVR 5.3 billion as Tourism Goods and Services Tax, by 27 October.

Statistics reveals that MVR 4 billion was generated as Business and Property Tax. This includes MVR two billion generated as Business Profit Tax, MVR 752.1 million as Withholding Tax, MVR 277.1 million as Individual Income Tax and MVR 904.9 million as Other Business and Property Taxes.

Finance Ministry's statistics goes on to show that the state has earned MVR 801.5 million as green tax so far this year.

Additionally, the state has earned MVR 122.2 million as royalties.

While the sate earned MVR 2.6 billion as Import Duties, statistics show that MVR 665 million was earned as Airport Service Charge.

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

This includes MVR 678.2 million earned as airport development fee and MVR 9.2 million as residential permit.

The state also earned MVR 663.2 million as registration and license fees.

Moreover, MVR 1.5 billion was earned as rent from resorts and MVR 158.4 million was earned as land acquisition and conversion fee.

Statistics also shows that the state earned MVR 212.1 million as fines and penalties so far this year.

In addition to this, the state has also earned MVR 547.8 million as SOE dividend.

Statistics show that Maldivian state received MVR 14.8 million as capital receipts and MVR 309.3 million as Grants, so far this year.