Maldives' tax revenue last month exceeds forecasts by 22.3 percent
Last month, MIRA’s dollar receipts stood at USD 100.34 million.
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.
