Tax income fell short of expectation during last month: MIRA

Maldives Inland Revenue Authority (MIRA) has said that the amount of tax income it received during the last month fell short of the estimates.

Account statements for the month of September published by MIRA show that the total income received during the month amounted to MVR 616.3 million, which was short of the estimated income for the month by 2 per cent. However, this figure is higher compared to September last year, as the figure for last year is MVR 513 million.

MIRA received an income of MVR 5.7 billion during the first nine months of this year.

An official from MIRA said that the income for September was less than estimated figures because a portion of Tourism Land Rent was not realized. While MIRA received 14.6 million as Tourism Land Rent during September, the item has brought an income of 770.5 million during the nine months of this year that have passed. Tourism Land Rent constitutes 36.4 per cent of government income.

Business Profit Tax (BPT) had raised 1.3 billion so far this year, and Goods and Services Tax (GST) has collected for MIRA a sum of 1.9 billion. Tourism Bed Tax raised a sum of 607.5 million.