State revenue exceeds MVR 12 billion

Ministry of Finance has revealed that the state revenue has exceeded MVR 12 billion so far in 2023.

Statistics released by the Finance Ministry shows that the state revenue has reached MVR 12.3 billion by 11 May 2023. The state revenue at 11 May, 2022 was MVR 9.9 billion.

The Ministry's statistics shows that income generated from tax currently sits at MVR 9.2 billion. During the same period last year, the state earned MVR 7.3 billion as tax revenue.

Statistics shows that the state received MVR 1.5 billion as General Goods and Services Tax and MVR 3.9 billion as Tourism Goods and Services Tax, by 11 May.

Statistics reveal that MVR 1.8 billion was generated as Business and Property Tax. This includes MVR 875.7 million generated as Corporate Income Tax, MVR 434.9 million as Withholding Tax and MVR 129.5 million generated as Individual Income Tax.

Finance Ministry's statistics further shows that the state has earned MVR 403 million as green tax during this period. During the same period last year, the state earned MVR 396 million as green tax.

Statistics show that MVR 372.3 million was earned as Airport Service Charge.

The state received MVR 2.9 billion as Non-Tax Revenue, according to the Finance Ministry.

This includes MVR 381.4 million earned as airport development fee, MVR 4.2 million as Residential Permit, MVR 279 million as Registration and License Fees, and MVR 523.9 million as rent from resorts.

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

Statistics also show that MVR 57.2 million was earned as Fines and Penalties so far this year.

Finance Ministry's statistics show that the state earned MVR 2.9 million as Capital Receipts and MVR 147.2 million as grants so far this year.