Maldives Inland Revenue Authority (MIRA) has revealed that it collected MVR 1.79 billion in tax revenue during the month of January 2021.
Of the MVR 1.79 billion collected by MIRA as revenue in January, 43 percent corresponds to revenue collected from income tax, which amounts to MVR 777.6 million. TGST was the second biggest source of income for MIRA in January 2021, contributing 41 percent, equivalent to MVR 743.6 million.
In addition to this, MIRA collected MVR 57.35 million (3.2 percent) in TGST revenue, MVR 52.34 (2.9 percent) in Tourism Land Rent, MVR 45.57 million (2.5 percent) in Business Profit Tax and an additional MVR 123.35 million (6.9 percent) in other taxes and fees.
MIRA’s revenue for January 2021 also includes USD 46.01 million, which pushes the total revenue collected by the tax authority in the first month of this year up to MVR 1.79 billion.
The January 2021 revenue figure is significantly less than that collected by MIRA in January 2020, which the authority attributes to decreased economic and tourist activity as a result of the COVID-19 pandemic.