MVR 16b recorded as tax revenue in 2022
According to data released by MIRA, the state earned MVR 2.58 billion in revenue last month.
Top Stories
-
Contract signed for fish processing facility in Kandholhudhoo
-
MIFCO to buy fish above 1kg at MVR 16 from Sunday
-
President calls for structured development of fisheries sector
-
President opens first fuel skid for discount fuel for fishermen
-
President inaugurates development initiatives in R. Dhuvaafaru
The state earned MVR 16 billion in tax revenue last year versus estimates of MVR 15.4 billion, according to data from the state's tax agency.
According to data released by the Maldives Inland Revenue Authority (MIRA) on Monday, out of MVR 16 billion in revenue earned last year, $569 million was received in dollars.
According to data released by MIRA, the state earned MVR 2.58 billion in revenue last month. This is:
-
27.4% more than December 2021
-
77% more than the expected revenue during the same period
Reasons for the increase in revenue last month, according to MIRA:
-
Increase in lease extension fee payable from resorts
-
Increase in GST collected from the tourism sector
-
Increase in taxes paid by companies
-
Increase in withholding tax
The highest contributors last month:
-
GST - MVR 882 million (34.2% of total revenue)
-
Lease Period Extension Fee - MVR 882 million (34.1% of total revenue)
-
Tourism Land Rent – MVR 359 million (13.1% of total revenue)
-
Income Tax – MVR 130 million (5.1% of total income)
-
Green Tax – MVR 75 million (2.9% of total revenue)
Related
Related
T-GST, Green Tax drive stronger state revenue, says fiscal report
MIRA reports 16.7% revenue increase in October
MIRA collects MVR 3B in Sep, highest monthly revenue in 5 years
