Tax revenues hit MVR7.1b, non-tax at MVR1.5b

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The cumulative total of tax revenues hit MVR7,100.7 million (MVR7.1 billion) as of 03 September, reveals Ministry of Finance.

Moreover, the ministry confirms cumulative non-tax revenue have reached MVR1,524.3 million (MVR1.5 billion).

Capital receipts as per review period stood at just MVR5.3 million, while grants have hit MVR188.6 million.

On the other hand, figures saw stronger figures in the corresponding period of 2019.

Cumulative tax revenues by same period in 2019 stood at MVR12,145.7 million (MVR12.1 billion), and non tax at MVR3,476.5 million (MVR3.5 billion).

Furthermore, capital receipts stood at MVR15.4 million and grants at MVR1,032.9 million (MVR1.03 billion) by the same period last year.

As per Ministry of Finance, cumulative total in GST stood at MVR3,055.7 million (MVR3.1 billion).

Moreover, TGST under the Goods and Services Tax component have reached MVR1,734.3 million (MVR1.7 billion). The GGST component have hit MVR1,321.4 million.

Business and Property Tax collection have reached MVR2,541.8 million (MVR2.5 billion).

Under the component, Business Profit Tax (BPT) collection stood at MVR1,489.4 million (MVR1.5 billion).

Meanwhile, state receives MVR37.9 million so far in 2020 as Income Tax.

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