Maldives Inland Revenue Authority (MIRA) has collected MVR 1.4 billion as tax revenue in February 2022.
The monthly revenue statistics published by MIRA shows that this is an increase of 40.1% compared to the same period last year and 17.6% higher than the projected revenue for the month.
MIRA stated that the main reason for the increase in revenue in February 2022 is attributed to the increment in tourism-related revenues such as GST, Income Tax, Green Tax, Tourism Land Rent and Airport Tax and Fee. According to MIRA, tourist arrivals to the Maldives increased by 43.1% in January 2022 compared to January 2021.
GST accounts for the largest share of the total revenue collected by MIRA in February 2022. This amounts to 69.1% or MVR 972.10 million. Income tax contributes in second place with 9.8% or MVR 138.21 million.
Other top revenue contributors include:
- Green Tax: MVR 91.44 million (6.5%)
- Airport Service Charge: MVR 51.99 million (3.7%)
- Airport Development Fee: MVR 44.85 million (3.2%)
- Other taxes and fees: MVR 107.98 million (7.7%)
The revenue collected in February 2022 also includes USD 63.09 million.