State revenue reaches 18.7 billion MVR

The Ministry of Finance revealed that state revenue reached MVR 18.7 billion.

Statistics revealed by the ministry show that the state had earned 18.7 billion MVR as of September 1, 2022. This is 5.8 billion MVR more than the 12.9 billion MVR earned as revenue of the state during the same period last year.

Statistics from the ministry show that tax revenue currently stands at MVR 13.8 billion. During the same period last year, the state earned 9.3 MVR in tax revenue.

As such, the state received MVR 2 billion as General Goods and Services Tax and MVR 4.7 billion as Tourism Goods and Services Tax, as of September 1.

Statistics reveal that 3.7 billion MVR was generated as business and property tax. This includes 1.9 billion MVR generated as corporate income tax, 609.9 million MVR as withholding tax, 243.5 million MVR as personal income tax and MVR 904 million as other business and property taxes.

Statistics from the Ministry of Finance then show that the state has earned MVR 678.8 million as green tax so far this year.

Additionally, the state earned MVR 65.6 million in royalties.

While the state earned 2 billion MVR in import duties, statistics show that 547.1 million MVR was earned in airport service fees.

The state received MVR 4.8 billion as non-tax revenue, according to the Ministry of Finance.

This includes 556.3 million MVR earned as airport development fees and 6.8 million MVR as residence permits.

The state also earned MVR 503.5 million in registration and licensing fees.

Additionally, 1.1 billion MVR was earned in the form of resort rents and 158 million MVR was earned in the form of land acquisition and conversion fees.

The statistics also show that the state has earned 171.9 million MVR in fines and penalties so far this year.

In addition to this, the state also earned MVR 304.1 million as SOE dividend.

Statistics show that the Maldivian State has received MVR 11.8 million in capital revenue and MVR 247.2 million in grants, so far this year.

Sallie R. Loera