State revenue exceeds MVR 9 billion

Ministry of Finance has revealed that the state revenue has exceeded MVR 9 billion so far in 2023.

Statistics released by the Finance Ministry show that the state revenue was at MVR 9.6 billion by 06 April 2023. The state revenue at 06 April, 2022 was MVR 7.6 billion.

The Ministry's statistics show that income generated from tax currently sits at MVR 7.2 billion. During the same period last year, the state earned MVR 5.6 billion as tax revenue.

Statistics show that the state received MVR 1.1 billion as General Goods and Services Tax and MVR three billion as Tourism Goods and Services Tax, by 06 April.

Statistics reveal that MVR 1.6 billion was generated as Business and Property Tax. This includes MVR 841.7 million generated as Corporate Income Tax, MVR 307.7 million as Withholding Tax and MVR 92.9 million generated as Individual Income Tax.

Finance Ministry's statistics show further that state has earned MVR 304 million as green tax during this period. During the same period last year, the state earned MVR 297.8 million as green tax.

Statistics show that MVR 276.4 million was earned as Airport Service Charge.

The state received MVR 2.3 billion as Non-Tax Revenue, according to the Finance Ministry.

This includes MVR 284.8 million earned as airport development fee, MVR 3.4 million as Residential Permit, MVR 213.6 million as Registration and License Fees, and MVR 476.4 million as rent from resorts.

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

Statistics also show that MVR 35.5 million was earned as Fines and Penalties so far this year.

Finance Ministry's statistics show that the state earned MVR 1.9 million as Capital Receipts and MVR 47.8 million as grants so far this year.