Business Governance

12 billion as expense while 10 billion received as revenue

Ministry of Finance and Treasury reports show the Government received 10 billion as revenue while the expenses were 12 billion.

“Monthly Fiscal Development” published by Ministry of Finance and Treasury shows the Government expenses at 12 billion. The budgeted amount for this running year stands at 27 billion with a projected revenue of 22 billion.

A total of 760.3 million was spent on salaries and pension in the month of June with another 515.4 million was spent on Admin and operational expenses.

The report stated that recurrent expenditure in June 2018 increased by 22% when compared to June 2017 mainly due to an increase in allowances for civil servants, aasandha and subsidies costs.

During the month of June, the highest income for the government was from taxes. With 429.3 million from GST and 327.9 million from Business and Property Tax and 119.6 million as Other taxes.

As per the report, revenue for June 2018 increase by 25% compared to June 2017 as BPT was lower in June 2017. This was mainly due to the extension of BPT deadline from June 30 to July 15 of that year.

Full details are available at the link below:

Source URL: Corporate Maldives

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