Maldives Inland Revenue Authority (MIRA) has announced that the authority collected MVR 1 billion as tax revenue during the month of October 2021. This figure includes a dollar revenue of USD 38.2 million.
The monthly revenue collection report publicized by MIRA shows that the total revenue collected in October was 39.2 percent higher the projected revenue for the month. The figure is also 155.7 percent higher than the revenue collected during the same period last year.
According to MIRA, tourist arrivals in October 2021 was about twelve times higher than October 2020, which caused an increase in tourism related tax revenues. MIRA attributed the rise in revenue in October 2021 mainly to the increment in TGST, Green Tax and Airport Taxes and Fees.
The main contributor to revenue last month was GST. MIRA collected MVR 583.8 million in GST, which contributed to a whopping 58.4 percent of total revenue.
Other top revenue contributors during the month include Income Tax (MVR 117.9 million), Tourism Land Rent (MVR 65 million), Green Tax (MVR 57 million), and Airport Development Fee (MVR 50 million).
