State collects MVR 1.32 B in August 2022

Maldives government earned a revenue total of MVR 1.32 billion in August 2022, reports Maldives Inland Revenue Authority (MIRA).

According to the revenue authority, state earnings for August observed a 3.6 percent increment compared with the same month in 2021. MIRA further confirms the hike in revenue for the review month was largely from the increment in the collection of Tourism Goods and Services Tax (TGST), airport development fee and airport service charge.

The revenue earned in August is a 5.9 percent increment from initial projection as well, owing mainly to the increment in TGST, Income Tax and airport taxes and fees.

Revenue composition confirms state earned the highest from Goods and Services Tax, at 48.7 percent of total revenue followed by Income tax with 19.9 percent share of total revenue.

Major revenue categories for August include;

1. GST - MVR 645,813,860

2. Income Tax - MVR 263,856,840

3. Lease Period Extension Fee - MVR 76,500,000

4. Green Tax - MV R73,090,374

5. Airport Development Fee - MVR 69,426,088

State earned a total of MVR 1.07 billion in tax revenues and MVR 252.7 million in non-tax revenues during the review month.