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State earnings at MVR 2.1billion in January: MIRA

12 February 2019, MVT 09:23
Maldives Inland Revenue Authority (MIRA). PHOTO: NISHAN ALI / MIHAARU
12 February 2019, MVT 09:23

The state earned MVR 2.1 billion in January through Maldives Inland Revenue Authority (MIRA).

Although the state earnings saw a 2.2 percent increase from the predicted figures, there was a decrease of 2.9 percent compared to the same period in 2018.

The largest share of the revenue comprised of Business Profit Tax (BPT). A total of MVR 880 million was collected as BPT, which is equivalent to 41 percent of the revenue in January.

MVR 799 million was collected as Goods and Service Tax (GST), which is the second largest proportion of January’s state earnings.

MIRA’s statistics revealed that over MVR 1 billion (USD 67.8 million) of total revenue was acquired in US dollars.

The statistics also show the revenue raised from the predicted figures due to the increased number of tourists who visited Maldives in that period. This led to an increase in GST in the tourism industry.

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