Revenues up by 45.3% in first quarter of 2022

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The total state revenues were up by 45.3% for the first quarter of 2022, reports Maldives Inland Revenue Authority (MIRA).

According to the authority, state earned a total of MVR6.01 billion in revenues during the review quarter.

Furthermore, the revenue earned was also 31.9% above initial projections while the increment in the collection of TGST, Tourism Land Rent, GGST, Green Tax, Departure Tax and Airport Development Fee contributed towards the overall revenue increase.

During the review quarter, state earned a total of MVR4.82 billion in tax revenues which was up by 41.7% when compared with the corresponding quarter of 2021.

Additionally the total tax revenues earned to the state was up by 37.7% from initial projection.

On the other hand, state collected a total of MVR1.19 billion in non-tax revenues observing a 62.0% increment from the corresponding quarter in 2021. The revenue component also saw a 12.7% increment from initial projection.

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