Revenue in March exceeds estimate by 26%
The MIRA said revenue increased more than expected last month due to higher income tax and GST paid by banks.
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By
Aishath Fareeha Abdulla
The state’s tax revenue last month was 26% higher than the estimated amount, according to Maldives Inland Revenue Authority (MIRA) data.
MIRA has released tax revenue figures for last month showing that it collected MVR 2.94 billion.
This includes USD 119.67 million as foreign earnings.
The MIRA said revenue increased more than expected last month due to higher income tax and GST paid by banks.
In addition, the revenue from the sector increased with more tourist arrivals than expected.
The highest tax revenues were:
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GST - MVR 1.5 billion (51.7% of total revenue)
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Income Tax - MVR 589 million (20.1% of total revenue)
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Tourism Land Rent - MVR 370 million (12.6% of total revenue)
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Green Tax - MVR 113 million (3.9% of total revenue)
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Airport Development Fee - MVR 106 million (3.6% of total revenue)
