State revenue reaches MVR 22.7 billion

The Ministry of Finance has revealed that the state revenue has reached MVR 22.7 billion so far in 2023.

Statistics released by the Finance Ministry show that the state revenue reached MVR 22.7 billion by 31 August 2023. The state revenue at 31 August, 2022 was at MVR 19.7 billion.

The Ministry's statistics show that income generated from tax currently sits at MVR 17.3 billion. During the same period last year, the state earned MVR 14.1 billion as tax revenue.

Statistics show that the state received MVR three billion as General Goods and Services Tax and MVR six billion as Tourism Goods and Services Tax, by 31 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 785.3 million as Withholding Tax and MVR 280 million generated as Individual Income Tax.

Finance Ministry's statistics further show that the state had earned MVR 686.9 million as green tax during this period. During the same period last year, the state earned MVR 681.6 million as green tax.

Statistics show that MVR 674.6 million was earned as Airport Service Charge.

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

This includes MVR 693.5 million earned as airport development fee, MVR 6.9 million as Residential Permit, MVR 530.8 million as Registration and License Fees, and MVR 965.5 million as rent from resorts.

The state had also earned MVR 38.3 million as Land Acquisition and Conversion Fee.

Statistics also show that MVR 108.6 million has been earned as Fines and Penalties so far this year.

Finance Ministry's statistics show that the state has earned MVR 3.9 million as Capital Receipts and MVR 350.7 million as grants so far this year.