State earns MVR 273.1 million in 12 days

Ministry of Finance has disclosed that the state has earned MVR 273.1 million by 12 January, 2022.

Ministry's statistics shows that this is MVR 216.8 million less than the MVR 489.9 million earned during the first 12 days of 2022.

The Ministry's statistics show that income generated from tax currently sits at MVR 163.8 million. During the same period last year, the state earned MVR 290.7 million as tax revenue.

As such, the state received MVR 25.1 million as General Goods and Services Tax and MVR 41.7 million as Tourism Goods and Services Tax, by 12 January.

Statistics reveal that MVR 70.5 million was generated as Business and Property Tax. This includes MVR 50.1 million generated as Corporate Income Tax, MVR 13.4 million as Withholding Tax and MVR 6.1 million generated as Individual Income Tax.

Finance Ministry's statistics goes on to show that the state has earned MVR 16.3 million as green tax during this period. During the same period last year, the state earned MVR 10.5 million as green tax.

Statistics show that MVR 10.3 million was earned as Airport Service Charge.

The state received MVR 109 million as Non-Tax Revenue, according to the Finance Ministry. During the same period last year, the Non-Tax Revenue was at MVR 276.5 million.

This includes MVR 10.5 million earned as airport development fee, MVR 100,000 as Residential Permit, MVR 12.5 million as Registration and Licence Fees, and MVR 73.8 million as rent from resorts.

The state has also earned MVR 500,000 as Land Acquisition and Conversion Fee.

Statistics also shows that MVR 2.8 million was earned as Fines and Penalties so far this year.

Finance Ministry's statistics shows that the state earned MVR 200,000 as Capital Receipts.