MIRA income up by 93 percent in September

Maldives Inland Revenue Authority (MIRA) has reported an income increase of 93 percent in September.

According to the Authority, a total of MVR 2.3 billion was received as tax and other income, attributed to higher revenue from GST, TGST and resort lease fees.

A breakdown of the figures show that TGST accounted for MVR 589 million, while MVR 434 million was received as GST payment. Income tax was at MVR 175 million during this period, while departure tax contributed MVR 101 million.

Another MVR 908 million was also received as non-tax payments, including MVR 361 million as resort lease fees and MVR 230 million as lease extension fees on lands issued for tourism activities.

Of the tax revenue last month, 102 million was paid in US Dollars. 60 percent of this came in the form of TGST and resort fees.

The state received MVR 1.1 billion during this period last year.

The increase in tax revenue was due to higher revenue from GST, TGST and resort rentals.

The government received MVR 1.1 billion during the same period last year.

TGST collection stood at MVR 589 million last month. GST collection stood at MVR 434 million while income tax collection stood at MVR 175 million. The government received MVR 101 million in departure tax last month.

Non-tax revenue stood at MVR 908 million last month. The largest amount was from resort rentals at MVR 361 million. Another MVR 230 million was received for extending the term of land allocated for tourism purposes.

Of the tax revenue last month, USD 102 million came from dollars. Of this, 60 per cent belongs to TGST and resort rent.

In the past nine months, the government collected MVR 22 billion in taxes and other revenue. Out of this, MVR 18 billion came from taxes.