MIRA reports MVR 2.3b in tax revenue for September
MIRA collected USD 105.02 million in taxes last month.
Maldives Inland Revenue Authority (MIRA) on Thursday reported that tax revenue for September stood at MVR 2.3 billion.
This figure represents a 93% increase compared to the same month last year and is 28.7% higher than the previously forecasted amount.
According to MIRA, the increased revenue was largely due to income from lease period extension fees and land acquisition and conversion fees. The lease period extension fees are not collected on a fixed schedule, and the revenue from them was not initially expected in September.
Additional revenue also came from acquisition fees related to newly allocated tourism areas and previously uncollected GST revenue, corporate income tax, and airport development fees. The increase in tourist arrivals, which exceeded the forecast by 8%, also contributed to the higher revenue.
The highest revenue sources for September were:
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GST: MVR 1 billion (44% of total revenue)
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Tourism Land Rent: MVR 360 million (15.7% of total revenue)
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Lease Period Extension Fee: MVR 229 million (10% of total revenue)
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Income Tax: MVR 174 million (7.6% of total revenue)
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Airport Development Fee: MVR 101 million (4.4% of total revenue)
MIRA collected USD 105.02 million in taxes last month.
