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MIRA revenue increases 19 percent for May

Fathmath Shaahunaz
15 June 2016, MVT 14:13
The entrance to the Finance Ministry building where the Maldives Inland Revenue Authority office is located. MIHAARU PHOTO
Fathmath Shaahunaz
15 June 2016, MVT 14:13

Maldives Inland Revenue Authority (MIRA) announced that their revenue for the month of May amounted to MVR 1.1 billion, which is an increase of 19 percent from last year.

MIRA’s official statistics publicised Monday indicates that the authority’s dollar revenue for May stands at USD 32.9 million, which is 50 percent higher than the projected amount.

The statistics illustrate that the highest revenue for the state was from Goods and Services Tax (GST) with a total amount of MVR 550 million, of which MVR 361 million was from Tourism GST (T-GST).

The second highest revenue was from Bank Profit Tax (BPT), with an amount of MVR 311.9 million.

The statistics show that MIRA’s revenue from January to May this year is MVR 6.3 billion, whereas the amount last year stood at MVR 5.6 billion.

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