Cumulative total of tax revenues as of 07 November 2019 has hit MVR16,506.5 million.
The latest in Weekly Fiscal Development from Ministry of Finance confirms the collection figures.
The non-tax revenue collection in annual terms has hit MVR5,648.7 million by the review week.
Goods and Services Tax has hit over MVR8,038.4 million – which combines both TGST and GGST.
Tourism Goods and Services Tax (TGST) has made an annual collection of MVR5,039.5 million.
Thus, this makes the revenue source, the strongest tax revenue stream to Maldives state.
Import Duty, the second strongest income churner in annual terms has reached MVR3,183.8 million.
While General Goods and Services Tax (GGST) has reached MVR2,998.9 million, making it the third strongest.
In addition to this, Business Profit Tax has reached MVR2,172.1 million while Withholding Tax has hit MVR605.3 million.
As of 07 November, Green Tax has reached MVR892.7 million and Airport Service Charge has reached MVR705.6 million.
From non tax revenue sources, rents from resorts has reached MVR1,855.8 million.
This makes the rents collected from resorts the strongest non-tax revenue source to state.