News

State revenue increases by 3.7 percent

The government has received MVR 11 billion in revenue so far this year.

According to the Finance Ministry, the government received MVR 11.1 billion as of the 25th of last month, a 3.7 percent increase compared to the same period last year, where it stood at MVR 10.7 billion.

Tax revenue accounted for MVR 9.2 billion of total revenue while non-tax revenue accounted for MVR 1.8 billion. GST collected totaled MVR 9.2 billion while non-tax revenue stood at MVR 1.8 billion.

Among the revenue streams, GST accounted for the largest share of revenue collected by MIRA last month. GST collection stood at MVR 5.1 billion, while business and property tax collection stood at MVR 2.6 billion. In addition, the government received MVR 704 million from departure tax and airport development fees and MVR 700 million from import duty.