MIRA generates more than MVR one billion as revenue last month

Maldives Inland Revenue Authority (MIRA) has generated MVR 1.55 billion during January 2015.

As far as statistics of MIRA are concerned, it is an 18 percent increase when compared with revenue MIRA has generated in January 2014.

According to MIRA, income of last month has been increased due to increase in TGST rate to 12 percent in November 2014 and increase in collection of TGST by 62.7 percent. MIRA revealed that GST on other items also has been increased by 17.3 percent. Apart from this, increase in BPT by 13.2 percent and collection of lease period extension fee also have contributed to the increase of income generated during last month.

MIRA has received highest income from BPT last month which is MVR 744.4 million and 48.2 percent of the total income generated during January. GST is the next highest contributor to the income generated in January 2015, which is MVR 597.9 million and 38.7 percent of the total revenue. MIRA received MVR 80.4 million, which is 5.2 percent of the total revenue generated during last year, as lease period extension fee while 26 percent of the total revenue in January was contributed from Airport Service Charge which is MVR 40.9 million.

Since tourism tax was not charged from November 2014 onwards, a very small amount has been generated as tourism tax during last month.

MIRA has collected 48.8 million during last month as Dollars, which is 3.8 percent less than the projected amount. MIRA has said that tourists arrived in Maldives were also less than the estimated amount during last month and this can be a reason for reduction of Dollar income in January.