MIRA reports 16.7% revenue increase in October
MIRA stated that revenue in October was 1.2 per cent higher than projected and 16.7 per cent higher than the amount collected in the same month last year.
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The Maldives Inland Revenue Authority (MIRA) collected MVR 2 billion in revenue last month, according to figures released by the agency on Tuesday.
MIRA stated that revenue in October was 1.2 per cent higher than projected and 16.7 per cent higher than the amount collected in the same month last year. The total included USD 85.96 million received in foreign currency.
According to MIRA, revenue exceeded estimates due to increases in Tourism Goods and Services Tax (T-GST), General Goods and Services Tax (GST), work permit fees, lease extension fees, and land acquisition fees. The collection of previously unpaid taxes also contributed to the increase.
GST revenue accounted for 60 per cent of total revenue collected in October, amounting to MVR 1.2 billion.
In addition:
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Green Tax contributed 8.5 per cent, totalling MVR 172 million.
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Income Tax contributed 7.2 per cent, or MVR 146 million.
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Airport Development Fees contributed 6.8 per cent, or MVR 138 million.
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Departure Tax accounted for 6.7 per cent, totalling MVR 135 million.
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Work Permit Fees made up 3.5 per cent, totalling MVR 72 million.
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