State revenue has increased by 16 percent more than the predicted figures.
According to statistics report by government taxation authority, Maldives Inland Revenue Authority (MIRA), the state generated MVR 1 billion as revenue. MIRA confirmed that increasing of revenue is due to 10% hike in tourists, an increase of extensions to tourism land and plot rent and lease. The tax authority collected USD 38.5 million which is also a hike of 16%.
Through Goods and Services Tax (GST) an income of MVR 529 million has been generated in August, which is the largest share of income. State also collected MVR 121 million as Business Profit Tax (BPT), while lease extension fees hit MVR 76 million.
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