Maldives Inland Revenue Authority (MIRA) has released the monthly revenue collection report for September 2021.
According to the report, a total of MVR 1.98 billion was collected as revenue by the authority during September 2021, inclusive of USD collection. Of this, USD 63.45 million was collected by MIRA during the month.
An increment of 133.5% was recorded for September 2021 compared to September 2020. According to MIRA, this is due to the increment in collection of Income Tax, Tourism Land Rent, TGST, GGST,Green Tax and Airport Taxes and Fees. Receipt from Tourism Land Rent shows a significant increase since the deadline of Tourism Land Rent for 4th quarter of 2020 was deferred but the payments were received according to the schedule in 2021.
In addition, the deadline for the submission of Income Tax 1st Interim Return and Payment for 2021 was also deferred to September 2021.
Furthermore, MIRA’s September 2021 revenue increased by 8.6% compare to the projection for September 2021. This is mainly due to the increment in collection of TGST, Income Tax, Green Tax, Airport Taxes and Fees and GGST over estimated amounts.