Maldives Inland Revenue Authority (MIRA) has announced it collected MVR 2.36 billion as total revenue in the month of January.
The monthly revenue collection report published by MIRA this Thursday shows the total revenue collected in January is 38.6 percent higher than the projected revenue for the month, and 31.2 percent higher than the revenue collected in the same period last year.
MIRA attributed the rise in revenue in January to the increment in the collection of TGST, GGST, Income Tax, Green Tax and Airport Taxes and Fees.
In this regard, the tax authority noted that tourist arrivals in the month of December 2021 is two times higher than that of December 2020 – which led to an increment in tourism-related revenues. They also noted that the one-off payment towards Lease Period Extension Fee received in January led to a significant increase in revenue.
The biggest contribution to revenue in January came from GST. MIRA collected MVR 1.05 billion in GST, which contributed to 44.6 percent of total revenue.
Top revenue contributors:
GST: MVR 1.05 billion
Income Tax: MVR 864.41 million
Tourism Land Rent: MVR 65 million
Green Tax: MVR 95.19 million
Lease Period Extension Fee: MVR 76.55 million
Other taxes and fees: MVR 188.54 million
The MVR 2.36 billion in revenue collected in January also includes USD 73.88 million.