With Rf 888.4 million earned from different taxes in the previous month, the government has earned Rf 12.3 billion this year.
Statistics released by Maldives Inland Revenue Authority, stated that the government has received 34.5 million in dollars and is a 23.8% increase from October last year. This figure is higher than the estimated income from last year and is a 22.2% increase.
MIRA’s estimate for the end of the year is Rf 14.06 billion in taxes. This therefore, is a 2.47% decrease from the estimated amount for the budget of 2016. With the derease in the estimated incomes, this year’s budget deficit at Rf 3.4 billion, which is 6% of the country’s GDP, would rise to higher level.