State revenue falls 7.7% against estimates in Aug
The MVR 1.60 billion received by the MIRA last month included $62.02 million in dollars.
The revenue collected through the Maldives Inland Revenue Authority (MIRA) last month fell 7.7% compared to the estimated revenue for August, according to figures released by the state tax agency on Tuesday.
The figures released by the MIRA for August show that the state collected MVR 1.60 billion through MIRA last month.
According to MIRA figures, the revenue collected through MIRA last month was lower than expected but it is 21% higher than the revenue received in the same period in 2022.
The revenue collection was lower than expected due to lower revenue from income tax, TGST and green tax. The estimated number of tourist arrivals fell by 0.2%, hence the slight decline in TGST revenue during the period.
The biggest income segments last month were:
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GST - MVR 943 million (59% of total revenue)
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Income Tax - MVR 188 million (11.8% of total revenue)
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Airport Development Fee - MVR 90 million (5.7% of total revenue)
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Departure Tax - MVR 87 million (5.5% of total revenue)
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Green Tax - MVR 69 million (4.4% of total revenue)
The MVR 1.60 billion received by the MIRA last month included $62.02 million in dollars.
As of August, the government had collected MVR 17.6 billion through MIRA this year.
