State revenue reaches MVR 14.8 billion

The Ministry of Finance has revealed that the state revenue has reached MVR 14.8 billion so far in 2023.

Statistics released by the Finance Ministry shows that the state revenue reached MVR 14.8 billion by 15 June 2023. The state revenue at 15 June, 2022 was at MVR 12.3 billion.

The Ministry's statistics shows that income generated from tax currently sits at MVR 11.2 billion. During the same period last year, the state earned MVR 8.9 billion as tax revenue.

Statistics show that the state received MVR 1.9 billion as General Goods and Services Tax and MVR 4.6 billion as Tourism Goods and Services Tax, by 15 June.

Statistics reveal that MVR 2.3 billion was generated as Business and Property Tax. This includes MVR one billion generated as Corporate Income Tax, MVR 513 million as Withholding Tax and MVR 156.2 million generated as Individual Income Tax.

Finance Ministry's statistics further show that the state had earned MVR 485.4 million as green tax during this period. During the same period last year, the state earned MVR 488.1 million as green tax.

Statistics show that MVR 466.5 million was earned as Airport Service Charge.

The state received MVR 3.3 billion as Non-Tax Revenue, according to the Finance Ministry.

This includes MVR 480.9 million earned as airport development fee, MVR five million as Residential Permit, MVR 351.6 million as Registration and License Fees, and MVR 552.6 million as rent from resorts.

The state had also earned MVR 800,000 as Land Acquisition and Conversion Fee.

Statistics also show that MVR 69.8 million has been earned as Fines and Penalties so far this year.

Finance Ministry's statistics show that the state has earned MVR 3.1 million as Capital Receipts and MVR 202.9 million as grants so far this year.