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State revenue at MVR 1.27 billion in Feb 2019

19 March 2019, MVT 09:33
Maldives Inland Revenue Authority (MIRA) building. PHOTO: MIHAARU / HUSSAIN WAHEED
19 March 2019, MVT 09:33

Maldives Inland Revenue Authority (MIRA) reported a total revenue of MVR 1.27 billion in February 2019.

The revenue for last month saw an increase of 0.8 percent compared to February 2018, and an increase of 3.4 percent for the projected income for February.

MIRA’s statistics revealed that MVR 811 million (USD 52.6 million) of total revenue was acquired in US dollars.

The largest share of the revenue comprised of Goods and Service Tax (GST). A total of MVR 794 million was collected as GST, equivalent to 62 percent of the total revenue.

MVR 134 million was collected as Business Profit Tax (BPT), which is the second largest proportion of February’s revenue.

MIRA revealed that the increase in revenue was a result of higher income generated from GST, BPT and Green Tax.

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