Revenue increased by MVR8.1 million due to audits: MIRA Q3 Report

The Quarterly Report for Q3 of 2012 of Maldives Inland Revenue Authority (MIRA) has shown that the revenue received by the Authority increased by MVR8.1 million as a result of audits conducted on businesses.

During the three months from July to September 2012, MIRA conducted 446 audits.

MIRA collected MVR853,273 from 200 BPT assessments, MVR995,355 from two Withholding Tax Audits, and MVR2.5 million from 234 GST Audits, which results in a total of MVR4.3 million.

It also collected $299,798 (MVR4.6 million) from ten Tourism Sector GST Audits.

The over-400 audits conducted during this period resulted in revenues of MVR8.1 million for MIRA.

The Authority also collected MVR9.1 million as Enforced Collections from existing arrears.

During Q3, MIRA filed four cases to Civil Court against two defaulters of Tourism Tax and two defaulters of Lease Rent.

During the first three months of 2012, MIRA collected MVR17 million through audits.

MIRA’s total revenue collection for the past nine months, or up to end of third quarter 2012, is MVR 5.7 billion.