State revenue reaches MVR 736.8 million

Ministry of Finance has disclosed that the state revenue has reached MVR 736.8 million by 19 January, 2022.

Ministry's statistics shows that this is MVR 74 million less than the MVR 810.8 million earned during the same period of 2022.

The Ministry's statistics show that income generated from tax currently sits at MVR 551.2 million. During the same period last year, the state earned MVR 535.4 million as tax revenue.

As such, the state received MVR 78.2 million as General Goods and Services Tax and MVR 91.7 million as Tourism Goods and Services Tax, by 19 January.

Statistics reveal that MVR 287.2 million was generated as Business and Property Tax. This includes MVR 117.3 million generated as Corporate Income Tax, MVR 117 million as Withholding Tax and MVR 24.6 million generated as Individual Income Tax.

Finance Ministry's statistics goes on to show that the state has earned MVR 25.5 million as green tax during this period. During the same period last year, the state earned MVR 16.6 million as green tax.

Statistics show that MVR 19.5 million was earned as Airport Service Charge.

The state received MVR 184.5 million as Non-Tax Revenue, according to the Finance Ministry. During the same period last year, the Non-Tax Revenue was at MVR 346.3 million.

This includes MVR 20 million earned as airport development fee, MVR one million as Residential Permit, MVR 30.1 million as Registration and Licence Fees, and MVR 89.6 million as rent from resorts.

The state has also earned MVR 700,000 as Land Acquisition and Conversion Fee.

Statistics also shows that MVR 4.7 million was earned as Fines and Penalties so far this year.

Finance Ministry's statistics shows that the state earned MVR 1.1 million as Capital Receipts.