Decrease in income from tax received by MIRA

Maldives Inland Revenue Authority (MIRA). (File Photo/Sun)

The income received to Maldives Inland Revenue Authority in the first quarter of 2019, was less than the estimated income.

Statistics  reports of the first quarter of 2019 released by MIRA shows that they received MVR 4.93 billion as tax. This is a 1.3 percent decrease in the income received by MIRA during this time last year. MIRA also notes that this is 3.1 percent decrease in the estimated income amount.

MIRA stated that the decrease in income is because the tax payers does not pay the taxes on time and pay after the deadline.

The highest amount was received to MIRA by GST. During the Q1 MIRA received MVR 2325 million as GST. MIRA received MVR 1103 million as business profit tax. They received MVR 411 million as rent of resorts and MVR 241 million as green tax.

Month January has the highest amount of income received during Q1. MIRA received USD 194.1 million and MVR 1.96 billion in January.

MIRA also noted that they estimate an income of MVR 3.74 billion in the second quarter of 2019.