Maldives Inland Revenue Authority (MIRA) has announced it collected MVR 1.98 billion as total revenue in the month of September.
The monthly revenue collection report published by MIRA this Monday shows the total revenue collected in September was 8.6 percent higher the projected revenue for the month, as well as 133.5 percent higher than the revenue collected in the same period last year.
MIRA attributed the rise in revenue in September to the increment in collection of Income Tax, Tourism Land Rent, TGST, GGST, Green Tax, and Airport Taxes and Fees.
MIRA said that the receipt from Tourism Land Rent, especially, showed a significant increase as the deadline of Tourism Land Rent for Q4 2020 was deferred, but the payments were received according to the schedule this year.
“In addition, the deadline for the submission of Income Tax 1st Interim Return and Payment for 2021 was also deferred to September 2021,” wrote MIRA in its report.
The biggest contribution to revenue in September came from Income Tax. MIRA collected MVR 745 million in Income Tax, which contributed to 37.6 percent of total revenue.
Top revenue contributors:
Income Tax: MVR 745 million
GST: MVR 553 million
Tourism Land Rent: MVR 410 million
Green Tax: MVR 72 million
Airport Development Fee: MVR 53 million
Other taxes and fees: MVR 147 million
The MVR 1.98 billion in revenue collected in September includes USD 63.45 million.