State revenue reaches MVR 23 billion

The Ministry of Finance has revealed that the state revenue has reached MVR 23 billion so far in 2023.

Statistics released by the Finance Ministry show that the state revenue reached MVR 23.2 billion by 14 September 2023. The state revenue at 14 September, 2022 was at MVR 20.2 billion.

The Ministry's statistics show that income generated from tax currently sits at MVR 17.7 billion. During the same period last year, the state earned MVR 14.4 billion as tax revenue.

Statistics show that the state received MVR three billion as General Goods and Services Tax and MVR 6.1 billion as Tourism Goods and Services Tax, by 14 September.

Statistics reveal that MVR 4.7 billion was generated as Business and Property Tax. This includes MVR 2.7 billion generated as Corporate Income Tax, MVR 821.9 million as Withholding Tax and MVR 292.3 million generated as Individual Income Tax.

Finance Ministry's statistics further show that the state had earned MVR 696.8 million as green tax during this period. During the same period last year, the state earned MVR 688.2 million as green tax.

Statistics show that MVR 677.8 million was earned as Airport Service Charge.

The state received MVR 5.2 billion as Non-Tax Revenue, according to the Finance Ministry.

This includes MVR 696.9 million earned as airport development fee, MVR 7.5 million as Residential Permit, MVR 567.4 million as Registration and License Fees, and MVR 989.9 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 112.9 million has been earned as Fines and Penalties so far this year.

Finance Ministry's statistics show that the state has earned MVR four million as Capital Receipts and MVR 352.5 million as grants so far this year.