• Islamic State income fell 30% after territory loss, say researchers

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    LONDON: Islamic State group revenues have dropped by around 30 percent since last year, forcing the group to introduce a range of new taxes including a levy on repairing satellite dishes, a research group said on Monday. “In mid-2015, the Islamic State’s overall monthly revenue was around $80 million (71 million euros),” said Ludovico Carlino, senior analyst at IHS, which issues regular reports on IS-controlled territory. “As of March 2016, the Islamic State’s monthly revenue dropped to $56 million,” Carlino said. The report said around 50 percent of IS revenues come from taxation and confiscation of businesses and property, with 43 percent coming from oil. The remainder is made up of drug smuggling, the sale of electricity and donations, the report said.

    AFP

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