MIRA's Q1 Revenue Collection reaches MVR 3.72 b

Maldives Inland Revenue Authority (MIRA) has announced that Total Revenue Collection stood at MVR 3.72 billion at the end of the first quarter (Q1) of 2015.

MIRA said in its Quarterly Report: Quarter 1, 2015, published on Monday, 27 April 2015, that this was a growth of 33.6 percent compared to the corresponding quarter of 2014.

The highest revenue contributors in Q1 of 2015 are Goods and Services Tax (GST), 46.2 percent; Tourism Land Rent, 8.8 percent; Lease period extension fee, 8.5 percent; and Airport Service Charge, 3.4 percent.

Total GST stood at MVR 1.71 billion, while total Business Profit Tax (BPT) stood at MVR 982 million at the end of Q1 of 2015, said MIRA.

The authority’s US Dollar Collection also increased in Q1 of 2015. With the collection of $153.57 million, this quarter in fact marked the highest USD collection since the establishment of MIRA. It is a 32.2 percent growth compared to the last quarter.