State revenue reaches MVR 30.8 billion

The Ministry of Finance has revealed that the state revenue has reached MVR 30.8 billion so far in 2023.

Statistics released by the Finance Ministry show that the state revenue reached MVR 30.8 billion by 07 December 2023. The state revenue at 07 December 2022 was at MVR 25.7 billion.

The Ministry's statistics show that income generated from tax currently sits at MVR 22.4 billion. During the same period last year, the state earned MVR 18 billion as tax revenue.

Statistics show that the state received MVR 4.1 billion as General Goods and Services Tax and MVR 7.9 billion as Tourism Goods and Services Tax, by 07 December.

Statistics reveal that MVR five billion was generated as Business and Property Tax. This includes MVR 2.8 billion generated as Corporate Income Tax, MVR one billion as Withholding Tax and MVR 343.1 million generated as Individual Income Tax.

Finance Ministry's statistics further show that the state had earned MVR 920.7 million as green tax during this period. During the same period last year, the state earned MVR 897.2 million as green tax.

Statistics show that MVR 898.3 million was earned as Airport Service Charge.

The state received MVR 7.7 billion as Non-Tax Revenue, according to the Finance Ministry.

This includes MVR 924.5 million earned as airport development fee, MVR 10.3 million as Residential Permit, MVR 781 million as Registration and License Fees, and MVR 1.4 billion as rent from resorts.

The state had also earned MVR 40.6 million as Land Acquisition and Conversion Fee.

Statistics also show that MVR 151.8 million has been earned as Fines and Penalties so far this year.

Finance Ministry's statistics show that the state has earned MVR 305.3 million as Capital Receipts and MVR 557.6 million as grants so far this year.