Maldives Inland Revenue Authority (MIRA) reports increment of revenue from foreign investment registration fee.
Moreover, the revenue authority’s statistics confirm a revenue collection of over MVR1 million by March end.
On the other hand, the corresponding period in 2020 registered a revenue of MVR967,560.
Revenue from foreign investment registration fee for March exclusively stood at MVR612,550.
In contrast, the revenue for corresponding month in 2020 stood at just MVR261,240 – owing to the Covid-19 pandemic impact.
Meanwhile, Ministry of Economic Development report an influx of USD294 million (MVR4.5 billion) into Maldives as Foreign Investments (FDIs) in 2020.
Furthermore, 2020 records a total of 38 such investments in Maldives which include 11 investments into tourism sector.