Gov't revenue exceeds MVR 27 billion
The state received MVR three billion as General Goods and Services Tax
Fnance Ministry
Ministry of Finance has revealed that the state revenue has exceeded MVR 27 billion.
Statistics revealed by the Ministry show that the state had earned MVR 27.6 billion by 29 December, 2022. During the same period last year, the state revenue was at MVR 21.9 billion.
The Ministry's statistics show that income generated from tax currently sits at MVR 19.2 billion. During the same period last year, the state earned MVR 14.7 billion as tax revenue.
As such, the state received MVR three billion as General Goods and Services Tax and MVR 6.6 billion as Tourism Goods and Services Tax, by 29 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 884.5 million as Withholding Tax, MVR 314.9 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 968.8 million as green tax during this period.
Additionally, the state has earned MVR 135 million as royalties.
While the sate earned MVR 3.4 billion as Import Duties, statistics show that MVR 802.1 million was earned as Airport Service Charge.
The state received MVR 8.2 billion as Non-Tax Revenue, according to the Finance Ministry. During the same period last year, the Non-Tax Revenue was at MVR 6.2 billion.
This includes MVR 820.1 million earned as airport development fee and MVR 11.6 million as residential permit.
The state also earned MVR 806.3 million as registration and license fees.
Moreover, MVR 1.9 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 252.1 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 15.8 million as capital receipts and MVR 331.7 million as Grants, so far this year.
