State Tax Revenue Increases by 45.3% in First Quarter of 2022

Maldives Inland Revenue Authority (MIRA), has revealed the total state tax revenue was up by 45.3% for the first quarter of 2022.

According to MIRA, the state earned a total of MVR6.01 billion in tax revenue during the review quarter.

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Moreover, the tax revenue earned was 31.9% higher than above initial projections while the increment in the collection of TGST, Tourism Land Rent, GGST, Green Tax, Departure Tax and Airport Development Fee contributed towards the overall increase in revenue.

During the review quarter, the state had earned MVR 4.82 billion in tax revenue which was up by 41.7% when compared to this quarter last year.

Additionally, the total tax revenue earned to the state had risen by 37.7% from initial projection.

Contrastingly, state collected a total of MVR 1.19 billion in non-tax revenue observing a 62.0% increment from the corresponding quarter last year. The revenue component has also seen a 12.7% increment from initial projection.

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