MIRA reports Revenue Collection of MVR 951 m for May 2015

Maldives Inland Revenue Authority (MIRA) has announced that Total Revenue Collection stood at MVR 951.3 million at the end of May 2015.

MIRA said in its Monthly Revenue Collection May 2015 report, published yesterday, that this was a 2.7 percent increase compared to April 2015.

It is also an increase of 18.9 percent compared to the corresponding period last year.

The highest contribution to Total Revenue, at 51 percent, was from Goods and Services Tax (GST). MIRA collected a total of MVR 490 million as GST, an increase of MVR 1 million compared to the corresponding period last year.

Business Profit Tax (BPT) stood at MVR 44 million, which is 4.7 percent of Total Revenue.

The authority also collected MVR 37 million as Airport Service Charge, MVR 205 million as Lease Period Extension Fee, and MVR 88 million as Tourism Land Rent.

At the end of May 2015, MIRA’s Total Revenue for the year stood at MVR 5 billion, compared to MVR 4 billion for the same period last year.