MIRA collects MVR 2.4 billion as revenue in Q3

Maldives Inland Revenue Authority (MIRA) has said that it collected MVR 2.4 billion in the third quarter of 2013.

In it Q3 report, MIRA said that this is an increase in revenue of 7.7 percent when compared to the corresponding quarter of 2012.

Revenue collection also increased by 11.9 percent when compared with the previous quarter, said MIRA.

Majority of revenue collection came from Business Profit Tax (BPT).

MIRA said that revenue collected in US Dollars amounted to $75.69 million, which when compared with the corresponding quarter of 2012, depicts a growth of 12 percent.

This growth was due to increase in US Dollar collections of tourism sector GST, Airport Service Charge and BPT.

MIRA said that the cumulative sum of revenue collected by the end of September 2013 was MVR 7.06 billion, which is an increase of 23.8 percent compared to the end of the third quarter 2012.

Projected revenue for the final quarter of 2013 is MVR 1.67 which represent 20.7 percent share of the total revenue projected for the year.

MIRA said that 2,409 businesses were newly registered in the MIRA during Q3, and that there 17,424 businesses registered in total at the end of Q3.