The cumulative total of Goods and Services Tax (GST) earnings to the government has reached MVR 7,260.2 million (MVR 7.3 billion) as of July 13, 2023.
According to the Ministry of Finance, the highest revenue stream to the state is Tourism Goods and Services Tax (TGST), reported at MVR 4,983.8 million (MVR 4.98 billion). General Goods and Services Tax (GGST) total has reached MVR 2,276.4 million (MVR 2.3 billion) by the review date.
Meanwhile, the cumulative earnings of Import Duties is nearing MVR 2 billion, and is reported at MVR 1,636.0 million (MVR 1.6 billion).
Top Tax Revenues
- TGST: MVR 4,983.8 million (MVR 4.98 billion)
- GGST: MVR 2,276.4 million (MVR 2.3 billion)
- Import Duties: MVR 1,636.0 million (MVR 1.6 billion)
- Corporate Income Tax: MVR 1,247.9 million (MVR 1.25 billion)
- Withholding Tax: MVR 576.0 million
Top Non-Tax Revenues
- Rent from Resorts: MVR 873.1 million
- SOE Dividends: MVR 568.8 million
- Airport Development Fee: MVR 538.0 million
- Registration and License Fees: MVR 404.4 million
- Interest and Profits: MVR 346.4 million
So far, Maldives government has received MVR 3.3 million in capital receipts and MVR 232.6 million in grants.