State earns MVR 104m as fines up until May

A man wears protective gear to protect from the spread of COVID-19 as he waits outside a shop in Male' City on May 12, 2020. (Sun Photo/Fayaz Moosa)

The state has earned around MVR 104.4 million as different types of fines. 

Statistics published by the Finance Ministry today show that up until May 20, the state revenue stood at MVR 7.1 million. This includes MVR 5.5 million as tax money and MVR 1.5 million through non-tax revenue. 

MVR 538.1 million was received as resort lease payments while MVR 104.1 was earned as dividends of state-owned companies. Business profits taxes accounted for MVR 524.3 million while GST taxes totalled at MVR 2.9 billion. 

The statistics also showed that the state earned MVR 69.9 million as foreign aid up until week 19 of 2021. 

During this period, the state spent MVR 3.4 billion on employee wages and remunerations. Current expenditure stool at MVR 3.6 million. 

The state budget for 2021 is MVR 34 billion. The government estimates that the MVR 21 billion would be earned as state revenue and foreign aid.