More than Rf17m received from audits: MIRA

Maldives Inland Revenue Authority (MIRA) has revealed in its first quarter report for 2012 that its income increased in the first three months of the year as a result of audits conducted on several businesses.

A total of 59 GST related audits were conducted in the quarter, which resulted in collections of $917,628 (Rf14.1m) and Rf602,599.

Also, 156 audits on withholding tax were carried out, which resulted in additional collection of Rf3.1m. As a result, MIRA received Rf17.8m from 215 audits in the past three months.

MIRA did not indicate in their report any reason for conducting the audits. It also does not state whether the relevant parties paid less tax on purpose or by mistake. MIRA’s regulations indicate that missing tax amounts have to be paid within 30 days of being notified to do so.

MIRA also collected arrears of Rf21m over the past three months.