MVR 1.24 billion as tax revenue in November, 168% higher than last year

Maldives Inland Revenue Authority (MIRA). (File Photo/Sun/Ali Naseer)

Maldives Inland Revenue Authority (MIRA) has announced it collected MVR 1.24 billion as total revenue in the month of November. 

The monthly revenue collection report published by MIRA this Thursday shows the total revenue collected in November was 51.8 percent higher the projected revenue for the month, and 168.4 percent higher than the revenue collected in the same period last year.     

MIRA attributed the rise in revenue in November to the increment in collection of Income Tax, Tourism Land Rent, TGST, GGST, Green Tax and Airport Taxes and Fees.  

MIRA said that tourist arrivals in October this year was seven times higher than October last year, which led to an increment in tourism related revenues.  

An one-off payment towards Lease Period Extension Fee received in November also contributed to a significant increase in revenue. 

The biggest contribution to revenue in November came from GST. MIRA collected MVR 773.23 million in GST, which contributed to 62.2 percent of total revenue.    

Top revenue contributors:    

GST: MVR 773.23 million   

Income Tax: MVR 80.99 million  

Lease Period Extension: MVR 76.60 million 

Green Tax: MVR 75.40 million   

Airport Development Fee: MVR 45.28 million     

Other taxes and fees: MVR 191.94 million    

The MVR 1.24 billion in revenue collected in November includes USD 51.31 million.