Statistics shows that the state revenue expected for 2021 is higher than 51.8 percent estimated earlier.
According to statistics released by Maldives Inland Revenue Authority (MIRA), they have received MVR 1.24 billion (USD 80.2 million) in revenue in the month of November. Compared to the same duration in 2020, this is an increase by 168.4 percent.
The increase in revenue is due to the increase in income tax, tourism land rent and GST, green tax, and airport tax this year. MIRA started collecting lease acquisition fee last month as well. The authority did not receive this payments last year.
The increase in Green Tax and Airport Tax has a direct correlation to the increase in tourist arrivals, according to MIRA. Tourist arrivals in October 2021 is seven times more than that for the previous year.
The statistics released by MIRA shows that they generated the most revenue last month in GST, a total of MVR 773.23 million (USD 50 million), while they received MVR 80.99 million in income tax (USD 5.24 million). They also received MVR 76.6 million is lease acquisition and MVR 75.4 million in green tax.
Additionally, the revenue generated included money collected in US Dollars as well, and in November they received a total of USD 51.31 million.
Sign In