MIRA collects MVR 11 billion as revenue in 2014

Statistics of Maldives Inland Revenue Authority (MIRA) have shown that total revenue collected by MIRA last year was MVR 11 billion.

Statistics published by MIRA on Thursday, has revealed that the authority had collected MVR 11.47 billion in 2014, which is MVR 2.4 billion more than the amount collected by the authority in 2013.

MIRA has collected MVR 4.4 billion as GST, which is 38.9 percent of the total revenue of 2014. While MVR 4 billion was collected as Airport service charge, MIRA has collected MVR 2.4 billion as BPT and MVR 1.3 billion from Tourism Land Rent. Revenue collected from all these contributors in 2014 was more than the revenue collected from these contributors in the year 2013.

When compared with 2013, revenue collected from Tourism Tax has been decreased by MVR 56 million in 2014.

In December 2014, MIRA has collected a revenue of MVR 999.3 million. This is 31.6 percent less than the revenue collected in December 2013.

Main reason for increased revenue for the year 2014 was introduction of tax on telecommunication services and increasing TGST to 12 percent.