Govt earns MVR 2.11 bil in April, up 13.6 percent

The state earned MVR 2.11 billion revenue in April 2024, reports the Maldives Inland Revenue Authority (MIRA).

According to MIRA in its most recent report, the state earned 91.87 million out of this total in US dollars.

MIRA also reports the total earning for the review month is a 13.6 percent increase compared to the same month last year, which is mainly due to the increment in the collections of GST, Airport Taxes and Fees, and Green Tax.

From the revenue share, GST contributed the most, retaining 68.7 percent of the total earnings, while Income Tax was the second strongest revenue stream with a share of 7.0 percent.

As such, GST collection stood at MVR 1.45 billion in April 2024, compared to MVR 1.2 billion observed in the same month last year.

While Income Tax covered the second largest share of the revenue streams in April, it still observed a decline from MVR 177 million observed last year to MVR 172 million this year.

The state collected MVR 1.84 billion in tax revenues, and MVR 276.4 million in non-tax revenues in the review month.