State revenue reaches MVR 20.7 billion

The Ministry of Finance has revealed that the state revenue has reached MVR 20.7 billion so far in 2023.

Statistics released by the Finance Ministry shows that the state revenue reached MVR 20.7 billion by 03 August 2023. The state revenue at 03 August, 2022 was at MVR 17.9 billion.

The Ministry's statistics shows that income generated from tax currently sits at MVR 15.9 billion. During the same period last year, the state earned MVR 12.9 billion as tax revenue.

Statistics show that the state received MVR 2.6 billion as General Goods and Services Tax and MVR 5.5 billion as Tourism Goods and Services Tax, by 03 August.

Statistics reveal that MVR 4.5 billion was generated as Business and Property Tax. This includes MVR 2.5 billion generated as Corporate Income Tax, MVR 726.1 million as Withholding Tax and MVR 252.8 million generated as Individual Income Tax.

Finance Ministry's statistics further show that the state had earned MVR 621.9 million as green tax during this period. During the same period last year, the state earned MVR 611.9 million as green tax.

Statistics show that MVR 584.8 million was earned as Airport Service Charge.

The state received MVR 4.5 billion as Non-Tax Revenue, according to the Finance Ministry.

This includes MVR 601.1 million earned as airport development fee, MVR 5.9 million as Residential Permit, MVR 475.1 million as Registration and License Fees, and MVR 925.9 million as rent from resorts.

The state had also earned MVR 25.9 million as Land Acquisition and Conversion Fee.

Statistics also show that MVR 947.4 million has been earned as Fines and Penalties so far this year.

Finance Ministry's statistics show that the state has earned MVR 3.6 million as Capital Receipts and MVR 262.2 million as grants so far this year.