State revenues observe over 155% increment in October 2021

According to the latest reports from Maldives Inland Revenue Authority (MIRA), the state revenue in October 2021 observed an overall increment of 155.7% compared to the same month in 2020.

Moreover, the revenue and taxation authority claims that the state earned a total revenue of MVR1 billion in the review month while 38.20 million out of the revenue total were collected in USD.

Furthermore, MIRA reports that the increment in the review month came due to increase in TGST, Green Tax and airport taxes and fees collections.

Meanwhile, the revenue collection in October 2021 had also observed a 39.2% increment from initial projections mainly due to the increase in the collection of GST and tourism land rent from previous deadlines.

The taxation authority had further confirmed that from the total revenue collected in the review month, MVR813.1 million came from tax sources and the remaining MVR187.7 million came from non-tax sources.