State collects MVR3.40bn revenue in January 2023

Maldives government collected a total revenue of MVR3.40 billion in January 2023; reports Maldives Inland Revenue Authority (MIRA).

According to MIRA, total revenue collection for the review month was up by 43.1% compared to the same month in 2021. This increment was mainly due to the increase in the collection of Goods and Services Tax (GST) – TGST and GGST included, Corporate Income Tax, Airport Taxes and Fees, Tourism Land Rent, and Green Tax.

The total revenue collected by the state in January was also up by 43.6% from the initial projection. This increment was mainly due to the rise in tax receipts including TGST, GGST, Income Tax, Green Tax, and Airport Taxes and Fees.

MIRA also reported that 112.8 million from the total were collected in US Dollars.

The state collected a total of MVR3.1 billion in tax revenues and another MVR270.6 million in non-tax revenues.

Top Revenue Contributors

  1. GST: MVR1.62 billion | 47.7%
  2. Income Tax: MVR1.297 billion | 38.1%
  3. Green Tax: MVR100.8 million | 3.0%
  4. Tourism Land Rent: MVR94.0 million | 2.8%
  5. Airport Development Fee: MVR89.6 million | 2.6%