State revenue reaches MVR two billion
Non-Tax Revenue currently sits at MVR 245 million
Ministry of Finance
Ministry of Finance has disclosed that the state revenue has reached MVR two billion by 26 January, 2023.
Ministry's statistics shows that the state revenue is currently at MVR 2.06 billion. This is MVR 700 million more than the revenue earned during the same period of 2022. As such, the state revenue at 26 January, 2022 was MVR 1.4 billion.
The Ministry's statistics show that income generated from tax currently sits at MVR 1.8 billion. During the same period last year, the state earned MVR 1.03 billion as tax revenue.
As such, the state received MVR 159.4 million as General Goods and Services Tax and MVR 704.4 million as Tourism Goods and Services Tax, by 26 January.
Statistics reveal that MVR 676.2 million was generated as Business and Property Tax. This includes MVR 240.2 million generated as Corporate Income Tax, MVR 118.4 million as Withholding Tax and MVR 34.6 million generated as Individual Income Tax.
Finance Ministry's statistics goes on to show that the state has earned MVR 68.3 million as green tax during this period. During the same period last year, the state earned MVR 52.1 million as green tax.
Statistics show that MVR 50.7 million was earned as Airport Service Charge.
The state received MVR 245 million as Non-Tax Revenue, according to the Finance Ministry. During the same period last year, the Non-Tax Revenue was at MVR 397.6 million.
This includes MVR 52.2 million earned as airport development fee, MVR 1.1 million as Residential Permit, MVR 38 million as Registration and Licence Fees, and MVR 91.1 million as rent from resorts.
The state has also earned MVR 700,000 as Land Acquisition and Conversion Fee.
Statistics also shows that MVR 6.5 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.
