State revenue reaches MVR 21.3 billion
MVR 4.7 billion was generated as Business and Property Tax
Ministry of Finance
The Ministry of Finance has revealed that the state revenue has reached MVR 21.3 billion so far in 2023.
Statistics released by the Finance Ministry show that the state revenue reached MVR 21.3 billion by 17 August 2023. The state revenue at 17 August, 2022 was at MVR 18.4 billion.
The Ministry's statistics show that income generated from tax currently sits at MVR 16.3 billion. During the same period last year, the state earned MVR 13.2 billion as tax revenue.
Statistics show that the state received MVR 2.7 billion as General Goods and Services Tax and MVR 5.6 billion as Tourism Goods and Services Tax, by 17 August.
Statistics reveal that MVR 4.7 billion was generated as Business and Property Tax. This includes MVR 2.6 billion generated as Corporate Income Tax, MVR 779 million as Withholding Tax and MVR 275 million generated as Individual Income Tax.
Finance Ministry's statistics further show that the state had earned MVR 632.4 million as green tax during this period. During the same period last year, the state earned MVR 620.9 million as green tax.
Statistics show that MVR 610.8 million was earned as Airport Service Charge.
The state received MVR 4.7 billion as Non-Tax Revenue, according to the Finance Ministry.
This includes MVR 628 million earned as airport development fee, MVR 6.6 million as Residential Permit, MVR 498.7 million as Registration and License Fees, and MVR 958.2 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 100.4 million has been earned as Fines and Penalties so far this year.
Finance Ministry's statistics show that the state has earned MVR 3.7 million as Capital Receipts and MVR 264.1 million as grants so far this year.
