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MIRA generates MVR 16 billion in revenue in 2019

Shahudha Mohamed
12 January 2020, MVT 18:37
Maldives Inland Revenue Authority (MIRA). PHOTO: MIHAARU
Shahudha Mohamed
12 January 2020, MVT 18:37

Maldives Inland Revenue Authority (MIRA) revealed that the state generated MVR 16.79 billion in revenue 2019, a 2.7 percent increase from last year.

According to MIRA, last year's revenue is also a 2.9 percent higher than the revenue forecasted for the year.

Constituting 46 percent of the total revenue, the largest chunk of income, of MVR 7.74 billion was collected as Goods and Services Tax (GST). MIRA also collected MVR 2.90 billion as Business Profit Tax (BPT), which made up 17 percent of the total revenue.

The state also recieved MVR 1.65 billion from Land Tax Revenue, and a total of MVR 850.27 million as Green Tax during 2019, contributing to 10 percent and 5 percent respectively.

Revenue received from Airport Development Fee made up 4 percent of MIRA's total revenue, amounting to MVR 728.91 million.

Records also show that a total of MVR 1.56 billion was collected in December 2019, up 8.9 percent from December 2018.

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