MIRA collects MVR 2.8 billion in revenue in February
The amount was 11.6 per cent lower than the authority’s estimate for the month.
Top Stories
-
Parliament passes bill to allow exemption from expat quota fees
-
Some flights resume to Maldives amid Mideast airspace disruption
-
MMA appoints Ishan as head of financial intelligence unit
-
Audit says MVR 29.6mn lost in FAM land sublease transactions
-
PCB issues guidelines on board committees for state companies
The Maldives Inland Revenue Authority (MIRA) collected MVR 2.8 billion in revenue in February, according to its latest revenue statistics.
The amount was 11.6 per cent lower than the authority’s estimate for the month.
MIRA said revenue was below expectations mainly due to lower collections from goods and services tax, airport taxes and fees, and green tax.
The authority also noted that some tax deadlines fell on public holidays, which extended the payment deadline to this month.
According to the revenue breakdown released by MIRA, the largest share of revenue came from goods and services tax.
Revenue collected during February included:
-
Goods and Services Tax – MVR 1.4 billion (52.3 per cent)
-
Income Tax – MVR 599 million (21.4 per cent)
-
Green Tax – MVR 200 million (7.2 per cent)
-
Departure Tax – MVR 134 million (4.8 per cent)
-
Airport Development Fee – MVR 113 million (4 per cent)
-
Lease Period Extension Fee – MVR 91 million (3.3 per cent)
The total revenue collected by the authority included USD 126.85 million in foreign currency receipts.
MIRA also recovered MVR 666 million in outstanding payments during the month.
According to the authority, the recovered amounts included:
-
MVR 156 million through dues clearance
-
MVR 61 million through instalment payment arrangements
-
MVR 34 million through phone and email reminders
-
MVR 11 million under enforcement actions
-
MVR 5 million through account freezing measures
