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MIRA collects MVR 1.4 billion in Dec 2018

13 January 2019, MVT 13:28
Maldives Inland Revenue Authority (MIRA) office. PHOTO: NISHAN ALI / MIHAARU
13 January 2019, MVT 13:28

Maldives Inland Revenue Authority (MIRA) reported a total revenue of MVR 1.4 billion in December 2018.

MIRA's statistics revealed that MVR 1 billion (USD 65 million) of total revenue was acquired in US Dollars.

The revenue for December 2018, saw an increase of 4.5 percent compared to December 2017, despite falling just one percent short of the projected income for December 2018.

The largest share of the revenue comprised of Goods and Services Tax (GST). A total of MVR 630 million was collected as GST, equivalent to 43 percent of the revenue in December.

MVR 352 million was collected as Tourism Land Rent, which is the second largest portion of December’s revenue.

According to MIRA, failure to meet the estimated revenue was a result of unpaid payments as Tourism Land Rent.

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