Tax revenue reaches MVR6.5b, non-tax hit MVR1.4b

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Tourism related revenue slowed down due to Covid-19 global pandemic

The cumulative total of tax revenues as of 13 August 2020 reaches MVR6,487.9 million (MVR6.5 billion).

Moreover, the cumulative total of non-tax revenues for the review period stood at MVR1,446.9 million (MVR1.4 billion).

According to Ministry of Finance, in their latest Weekly Fiscal Development Goods and Services Tax (GST) remain the strongest revenue stream to state.

The cumulative total of GST earnings stood at MVR2,959.9 million (MVR2.9 billion).

Furthermore, TGST under the GST component stood at MVR1,715.6 million (MVR1.7 billion).

On the other hand, GGST component stood at MVR1,244.3 million (MVR1.2 billion).

Moreover, the cumulative total of Business and Property Tax reaches MVR2,033.8 million (MVR2.0 billion), under which MVR1,022.9 million (MVR1.0 billion) comes from Business Profit Tax (BPT).

Green Tax collection as of 13 August 2020 has reached MVR292.0 million, while revenue from Airport Service Charge stood at MVR245.9 million.

Additionally the revenue from Import Duty has made a cumulative total of MVR907.4 million.

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