State revenue reaches MVR 6.4 billion
The state received MVR 769.8 million as General Goods and Services Tax
Finance ministry
Ministry of Finance has revealed that the state revenue has reached MVR 6.4 billion so far in 2023.
Statistics released by the Finance Ministry show that the state revenue was at MVR 6.4 billion by 09 March 2023. The state revenue at 09 March, 2022 was MVR 5.2 billion.
The Ministry's statistics show that income generated from tax currently sits at MVR 5.5 billion. During the same period last year, the state earned MVR 4.1 billion as tax revenue.
As such, the state received MVR 769.8 million as General Goods and Services Tax and MVR 2.2 billion as Tourism Goods and Services Tax, by 09 March.
Statistics reveal that MVR 1.5 billion was generated as Business and Property Tax. This includes MVR 814.4 million generated as Corporate Income Tax, MVR 230.4 million as Withholding Tax and MVR 72.4 million generated as Individual Income Tax.
Finance Ministry's statistics goes on to show that the state has earned MVR 203.1 million as green tax during this period. During the same period last year, the state earned MVR 202.1 million as green tax.
Statistics show that MVR 168.6 million was earned as Airport Service Charge.
The state received MVR 885.8 million as Non-Tax Revenue, according to the Finance Ministry. During the same period last year, the Non-Tax Revenue was at MVR 1.1 billion.
This includes MVR 174.1 million earned as airport development fee, MVR 2.6 million as Residential Permit, MVR 137.6 million as Registration and License Fees, and MVR 106.9 million as rent from resorts.
The state has also earned MVR 700,000 as Land Acquisition and Conversion Fee.
Statistics also show that MVR 21.7 million was earned as Fines and Penalties so far this year.
Finance Ministry's statistics show that the state earned MVR 1.4 million as Capital Receipts and MVR 9.9 million as grants so far this year.
