State revenue reaches MVR 21.6 billion

The Ministry of Finance revealed that state revenue reached MVR 21.6 billion.

Statistics revealed by the ministry show that the state had earned MVR 21.6 billion as of October 20, 2022. During the same period last year, the state revenue was MVR 15.9 billion.

Statistics from the ministry show that tax revenue currently stands at MVR 15.5 billion. During the same period last year, the state earned MVR 11.4 billion in tax revenue.

As such, the state received MVR 2.4 billion in General Goods and Services Tax and MVR 5.2 billion in Tourism Goods and Services Tax, as of October 20.

Statistics reveal that 4 billion MVR was generated as business and property tax. This includes two billion MVR generated as corporate income tax, 749.9 million MVR as withholding tax, 274.7 million MVR as personal income tax and 904 .9 million MVR as other business and property taxes.

Statistics from the Ministry of Finance then show that the state has earned MVR 776 million as green tax so far this year.

Additionally, the state earned MVR 121.5 million in royalties.

While the state earned 2.4 billion MVR in import duties, statistics show that 635.5 million MVR was earned in airport service fees.

The state received MVR 6 billion as non-tax revenue, according to the Ministry of Finance.

This includes 648 million MVR earned as airport development fees and 9.1 million MVR as residence permits.

The state also earned MVR 638.1 million in registration and licensing fees.

Additionally, MVR 1.5 billion was earned in the form of resort rents and MVR 158.2 million was earned in the form of land acquisition and conversion costs.

The statistics also show that the state has earned MVR 205.3 million in fines and penalties so far this year.

In addition to this, the state also earned MVR 547.8 million as SOE dividend.

Statistics show that the Maldivian State has received MVR 14.7 million in capital revenue and MVR 308.1 million in grants, so far this year.

Sallie R. Loera