Maldives' tax revenue last month exceeds forecasts by 22.3 percent
Last month, MIRA’s dollar receipts stood at USD 100.34 million.
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By
Ahmed Mizyal
The state tax authority, Maldives Inland Revenue Authority (MIRA), received MVR 2.33 billion in February as state revenue, a significant surge compared to the same period last year.
This is a 22.3% increase than what was forecasted for February 2024 and 33.7% higher than revenue from February last year, according to data released by MIRA on Thursday.
The main reason for the increase in revenue last month, according to MIRA:
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Increase in GST revenue
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Bank income tax and tourism land rent outstanding were collected by MIRA last month
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Increase in the number of tourist arrivals
The highest revenue collections for MIRA in February were from:
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GST - MVR 1.6 billion (70% of revenue)
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Income Tax - MVR 246.3 million (10.6% of revenue)
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Green Tax - MVR 102.8 million (4.4% of revenue)
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Airport Development Fee - MVR 91 million (3.9% of revenue)
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Departure Tax - MVR 89.4 million (3.8% of revenue)
Last month, MIRA’s dollar receipts stood at USD 100.34 million.
