MIRA collects MVR 4 billion in March revenue
The authority stated that the figure represents a 26.8% increase compared to initial projections for the period.
The Maldives Inland Revenue Authority reported total revenue of MVR 4 billion for March, according to its latest revenue statistics.
The authority stated that the figure represents a 26.8% increase compared to initial projections for the period. Revenue also recorded a 17% increase compared to the same month last year.
MIRA attributed the increase to higher collections from Goods and Services Tax (GST), Tourism Goods and Services Tax (TGST), and Green Tax. The authority noted that tourist arrivals rose by 18% in February compared to the same period last year, contributing to higher tourism-related tax revenue in March.
MIRA also stated that enforcement measures to recover outstanding dues accounted for 7.6% of the total revenue collected during the month.
Total US dollar collections for March reached USD 205 million.
GST accounted for the largest share of revenue, contributing 59.6% of the total, equivalent to MVR 2.4 billion.
Other sources of revenue included:
-
Resort Land Rent: MVR 440 million (10.9%)
-
Green Tax: MVR 312 million (7%)
-
Airport Development Fee: MVR 271 million (6.7%)
-
Departure Tax: MVR 248 million (6.1%)
-
Income Tax: MVR 198 million (4.9%)
MIRA stated that the increase in tourist arrivals also contributed to higher collections from Airport Development Fee and Departure Tax during the period.
