MIRA

The Monthly Revenue Collection Report for July 2012 of Maldives Inland Revenue Authority (MIRA) has shown a 46.6 percent increase when compared with the corresponding period last year.

Revenue Collection also increased in June 2012 compared with June 2011, from MVR433.9 million to MVR635.9 million – an increase of MVR202.1 million.

For July 2012, the highest contributor to Revenue Collection was revenue from Goods and Services Tax (GST).

MVR187 million was collected as GST, which is 29.4 percent of MIRA’s total revenue.

At MVR79.2 million and as 28.8 percent of MIRA’s revenue, Business Profit Tax was the second contributor to MIRA’s Revenue Collection.

US Dollar Revenue Collection, which accounts for a big part of MIRA’s income, stood at $16.1 million for July 2012.

MIRA’s Total Revenue Collection for July 2012 was also 19.3 percent more than forecasted.