Gov't revenue exceeds projected amount to MVR 26.2 billion
The state received MVR 7.6 billion as Non-Tax Revenue
Ministry of Finance has revealed that the state revenue has exceeded the amount projected for the year | Majilis
Ministry of Finance has revealed that the state revenue has exceeded the amount projected for the year.
Statistics revealed by the Ministry show that the state had earned MVR 26.2 billion by 22 December, 2022. During the same period last year, the state revenue was at MVR 20.5 billion.
The Ministry's statistics show that income generated from tax currently sits at MVR 18.4 billion. During the same period last year, the state earned MVR 13.8 billion as tax revenue.
As such, the state received MVR 2.9 billion as General Goods and Services Tax and MVR six billion as Tourism Goods and Services Tax, by 22 December.
Statistics reveal that MVR 4.2 billion was generated as Business and Property Tax. This includes MVR 2.1 billion generated as Business Profit Tax, MVR 883.8 million as Withholding Tax, MVR 314.3 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 922.2 million as green tax so far this year.
Additionally, the state has earned MVR 134.6 million as royalties.
While the sate earned MVR 3.3 billion as Import Duties, statistics show that MVR 789.8 million was earned as Airport Service Charge.
The state received MVR 7.6 billion as Non-Tax Revenue, according to the Finance Ministry. During the same period last year, the Non-Tax Revenue was at MVR 5.7 billion.
This includes MVR 807.6 million earned as airport development fee and MVR 11.1 million as residential permit.
The state also earned MVR 792.6 million as registration and license fees.
Moreover, MVR 1.7 billion was earned as rent from resorts and MVR 158.9 million was earned as land acquisition and conversion fee.
Statistics also shows that the state earned MVR 246.3 million as fines and penalties so far this year.
In addition to this, the state has also earned MVR 642.9 million as SOE dividend.
Statistics show that Maldivian state received MVR 15.7 million as capital receipts and MVR 331.4 million as Grants, so far this year.
