The state has collected an additional MVR 2 billion in GST in the past seven months, according to statistics.
Figures released by the Finance Ministry show that GST collection stood at MVR 8.2 billion as of August 16.
This is an increase of MVR 2 billion compared to the same period last year. GST collection stood at MVR 6.1 billion during the same period last year.
The General Goods and Services Tax (GGST) has been hiked from six percent to eight percent (MVR 2) this year.
MVR 2.6 billion has been collected as GGST so far this year. The amount stood at MVR 1.8 billion in the same period last year.
Tourism Goods and Service Tax (TGST) has also been increased from 12 percent to 16 percent. TGST collection so far this year stood at MVR 5.5 billion as against MVR 4.3 billion last year.
Tax revenue stood at MVR 16.1 billion so far this year. The largest revenue was from TGST. Tax revenue stood at MVR 13 billion during the same period last year.
