MIRA collects MVR 1.63 billion as tax revenue in April 2022

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

Maldives Inland Revenue Authority (MIRA) has announced it collected MVR 1.63 billion as total revenue in the month of April 2022.

The monthly revenue collection report published by MIRA this Thursday shows the total revenue collected in April is 45.8 percent higher than the projected revenue for the month, and 14.7 percent higher than the revenue collected in the same period last year.  

However, this is a decrease in the monthly revenue collected compared to the month of March 2022; having been MVR 2.18 billion.

MIRA attributed the rise in revenue compared to the same period of last year, to the receipt of lease period extension fee, increment of tourism related taxes and the revenue increment from the amendments brought to Airport Taxes and Fees Act.

The biggest contribution to revenue in February came from GST. MIRA collected MVR 977.88 million in GST, which contributed to 60 percent of total revenue.

Top revenue contributors:   

GST: MVR 977.88 million (60 percent)

Lease Period Extension Fee: MVR 153.60 million (9.4 percent)

Income Tax: MVR 124.72 million (7.7 percent)

Green Tax: MVR 87.25 million (5.4 percent)   

Airport Development Fee: MVR 76.71 million (4.7 percent)

Other taxes and fees: MVR 210.12 million (12.9 percent)

The MVR 1.63 billion in revenue collected in January also includes USD 73.65 million.