Revenues observe 64.2% increment in March 2022

According to the latest update from Maldives Inland Revenue Authority (MIRA) state revenues observed a 64.2% increment in March 2022 when compared with the same month last year.

In March 2022, state earned a total revenue of MVR2.18 billion; which, according to the authority was mainly due to the increment in TGST, Tourism Land Rent, Income Tax, GGST, Green Tax, and Airport Taxes.

Meanwhile, the earnings to state in the review month was up by 32.0% from initial projections; which occurred due to the surge in the collection of tax sources.

GST covered the highest revenue share with 50.7% of the total earnings coming from the source while tourism land rent covered 24.8% of the total.

The total tax revenues exclusive for the month of March 2022 reached MVR1,466.7 million (MVR1.5 billion) and the total non tax revenues exclusive for the review month reached MVR712.8 million.