MIRA collects MVR 1 billion as tax revenue in October

Maldives Inland Revenue Authority (MIRA) headquarters. (File Photo/Sun/Fayaz Moosa)

Maldives Inland Revenue Authority (MIRA) has announced it collected MVR 1 billion as total revenue in the month of October.   

The monthly revenue collection report published by MIRA this Thursday shows the total revenue collected in October was 39.2 percent higher the projected revenue for the month, and 155.7 percent higher than the revenue collected in the same period last year.   

MIRA attributed the rise in revenue in October to the increment in TGST, Green Tax and Airport Taxes and Fees.  

According to MIRA, tourist arrivals in October 2021 was 12 times higher than October 2020, which led to increment in tourism related revenues.  

The receipt of Tourism Land of previous deadlines contributed to the favorable outcome. 

The biggest contribution to revenue in October came from GST. MIRA collected MVR 583.8 million in GST, which contributed to 58.4 percent of total revenue.   

Top revenue contributors:   

GST: MVR 583.8 million  

Income Tax: MVR 117.9 million 

Tourism Land Rent: MVR 65 million  

Green Tax: MVR 57 million   

Airport Development Fee: MVR 50 million   

Other taxes and fees: MVR 125.9 million   

The MVR 1 billion in revenue collected in October includes USD 38.20 million.