MIRA collects MVR 1.28 billion as tax revenue in May 2022

Maldives Inland Revenue Authority (MIRA) has announced it collected MVR 1.28 billion as total revenue in the month of May 2022.

The monthly revenue collection report published by MIRA this Thursday shows the total revenue collected in April is 12.8 percent higher than the projected revenue for the month, and 63 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 April 2022; having been MVR 1.63 billion.

MIRA attributed the rise in revenue compared to the same period of last year, to the increase in tourist arrivals to Maldives as well as the increment of tourism-related taxes and the revenue increment from the amendments brought to Airport Taxes and Fees Act.

The biggest contribution to revenue in May came from GST. MIRA collected MVR 829.44 million in GST, which contributed to 64.7 percent of total revenue.

Top revenue contributors:   

GST: MVR 892.44 million (64.7 percent)

Income Tax: MVR 105.85 million (8.3 percent)

Green Tax: MVR 96.58 million (7.5 percent)   

Airport Development Fee: MVR 60.61 million (4.7 percent)

Airport Service Charge: MVR 59.80 million (4.7 percent)

Other taxes and fees: MVR 128.81 million (10.1 percent)

The MVR 1.63 billion in revenue collected in January also includes USD 53.47 million.