MIRA collects MVR 1.41 billion as tax revenue in February

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

Maldives Inland Revenue Authority (MIRA) has announced it collected MVR 1.41 billion as total revenue in the month of February.

The monthly revenue collection report published by MIRA this Thursday shows the total revenue collected in February is 40.1 percent higher than the projected revenue for the month, and 17.6 percent higher than the revenue collected in the same period last year.  

However, this is a decrease in the monthly revenue collected compared to the month of January, in which it was MVR 2.36 billion.

MIRA attributed the rise in revenue compared to the same period of last year, to the increment in the collection of TGST, GGST, Green Tax and Tourism Land Rent.

In this regard, the tax authority noted that tourist arrivals in the month of January 2021 is 43.1 percent higher than that of January 2020 – which led to an increment in tourism-related revenues. 

The biggest contribution to revenue in February came from GST. MIRA collected MVR 972.10 million in GST, which contributed to 69.1 percent of total revenue.

Top revenue contributors:   

GST: MVR 972.10 million (61.1 percent)

Income Tax: MVR 138.21 million (9.8 percent)

Green Tax: MVR 91.44 million (6.5 percent)   

Airport Service Charge: MVR 51.99 million (3.7 percent)

Airport Development Fee: MVR 44.85 million (3.2 percent)

Other taxes and fees: MVR 107.98 million (7.7 percent)

The MVR 2.36 billion in revenue collected in January also includes USD 63.09 million.