MIRA

Revenue collected by Maldives Inland Revenue Authority (MIRA) by the end of September this year was higher than last year.

MIRA said that total revenue generated last year was MVR 8.9 billion, but this year, MIRA has collected a total revenue of MVR 9.01 billion by the end of September. This is a 26.3 percent increase in revenue when compared to the revenue generated by the end of September last year. Government made revenue of MVR 7.1 billion by the end of September last year.

Government generated a revenue of MVR 835.7 million in September alone this year, which was 4.3 percent more than estimated for the time period, which was also an increase of 24.4 percent when compared to the revenue collected in September last year.

There was an increase in revenue for September this year when compared to September last year because more revenue was made this September from Tourism Land Rent, Goods and Services Tax (GST) and Business Profit Tax (BPT) than last September.

Tourism Land Rent was the main revenue contributor during last month. The total revenue made by this contributor was MVR 315.7 million.

Second highest revenue was collected from GST. A total of MVR 302.7 million was collected as GST. Government received MVR 79.3 million as Tourism Tax.

MIRA said that government has got $40.3 million as Dollar revenue during September 2014.