The latest stats from Ministry of Finance confirms tax revenue sources continuing their strong contribution.
As per Weekly Fiscal Development, the total tax revenue on an annual basis has reached MVR14,180.4 million.
According to figures, cumulative Tourism Goods and Services Tax (TGST) total has hit MVR4,072.0 million.
While on the other end, cumulative total on Import Duty has reached MVR2,784.7 million.
As of review week, cumulative total on General Goods and Services Tax (GGST) has hit MVR2,415.8 million.
Meanwhile, Business Profit Tax collection has reached MVR2,156.0 million.
GST collection – combination of both TGST and GGST – has reached MVR6,487.9 million.
Business and Property Tax – which combines BPT, Withholding Tax and other business and property taxes – has reached MVR3,374.3 million.
In addition, Green Tax has cumulatively reached MVR716.3 million while Airport Service Charge reached MVR604.8 million.
As for non-tax revenues, property income covers the largest portion in terms of revenue contribution.
Under the segment, rents from resorts has reached MVR1,288.0 million.
Moreover, state has collected MVR1,239.4 million in various fees and charges.