{"id":7161,"date":"2023-11-05T14:45:21","date_gmt":"2023-11-05T09:45:21","guid":{"rendered":"https:\/\/mbt.mv\/?p=7161"},"modified":"2023-11-05T14:45:21","modified_gmt":"2023-11-05T09:45:21","slug":"state-earns-mvr-6-32-b-revenue-in-q3-2023","status":"publish","type":"post","link":"https:\/\/mbt.mv\/?p=7161","title":{"rendered":"State earns MVR 6.32 B revenue in Q3-2023"},"content":{"rendered":"

Maldives government has generated a revenue of MVR 6.32 billion in Q3-2023, which is a 17.3% increment compared to the same quarter last year.<\/p>\n

Despite this improvement, the total revenue for the review quarter was still 1.0% lower than projections.<\/p>\n

During the quarter, increments were observed from Income Tax from companies and non-individuals, TGST, GGST, Tourism Land Rent, Individual Income Tax, and airport taxes and fees.<\/p>\n

On the other hand, Bank Income Tax and Non-resident Withholding Tax declined compared to the revenue collected in Q3-2022.<\/p>\n

Out of the total revenue collected to the state, MVR 5.33 billion came through taxes, which showed a 33.0% increment from the same quarter last year, but a 2.5% decline from projections. The state collected MVR 993.52 million in non-tax revenues for the quarter, which is a 28.1% decline compared to Q3-2022, but a 7.3% increase compared to the projections.<\/p>\n

During the quarter, MIRA collected 216.88 million out of the total quarterly revenue in US Dollars; which is a 17.1% increment compared to the revenue collected in dollars in Q3-2022.<\/p>\n

Top Revenue Contributors<\/h2>\n
    \n
  1. Goods and Services Tax (GST): MVR 2.68 billion<\/li>\n
  2. Income Tax: MVR 2.17 billion<\/li>\n
  3. Tourism Land Rent: MVR 441.37 million<\/li>\n
  4. Airport Development Fee: MVR 228.46 million<\/li>\n
  5. Departure Tax: MVR 220.79 million<\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"

    Maldives government has generated a revenue of MVR 6.32 billion in Q3-2023, which is a 17.3% increment compared to the same quarter last year. Despite this improvement, the total revenue for the review quarter was still 1.0% lower than projections. During the quarter, increments were observed from Income Tax from companies and non-individuals, TGST, GGST,<\/p>\n","protected":false},"author":4,"featured_media":7128,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2424,2428],"tags":[1301,1310,1502,1603,2038],"class_list":{"0":"post-7161","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-finance","8":"category-public-sector","9":"tag-maldives-government","10":"tag-maldives-inland-revenue-authority","11":"tag-mira","12":"tag-non-tax-revenue","13":"tag-tax-revenue"},"yoast_head":"\nState earns MVR 6.32 B revenue in Q3-2023 - Maldives Business Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/mbt.mv\/?p=7161\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"State earns MVR 6.32 B revenue in Q3-2023 - Maldives Business Times\" \/>\n<meta property=\"og:description\" content=\"Maldives government has generated a revenue of MVR 6.32 billion in Q3-2023, which is a 17.3% increment compared to the same quarter last year. 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