State collects MVR 2.1 bln as revenue in July

Maldives has recorded a state revenue of MVR 2.1 billion for the month of July.

According to the official statistics of Maldives Inland Revenue Authority (MIRA), the government revenue in July was two percent higher than that of last year, and one percent higher than the projected estimate.

Out of the total revenue, MVR 730 million was earned in US Dollars (USD 47.7 million).

Although the biggest contributor to revenue is mostly Goods and Services Tax (GST), Business Profit Tax (BPT) brought in the highest revenue with 43 percent, followed by GST at 24 percent in July.

The authority also attributed the higher revenue to an increase in BPT as the deadline for the tax was in July.