MIRA collects MVR1.3 billion as state revenue in September

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Maldives Inland Revenue Authority (MIRA) in their September report has revealed the state has collected a revenue of MVR1.3 billion including USD collections.

The state taxation authority claims revenue collection for September increased in comparison to 2017’s same period due to increment in Tourism Land Rent, Land Acquisition and Conversion Fee and GGST collection.

“However, as some taxpayers opted to defer the land rent payment as per the latest amendments to Tourism Act, revenue from Tourism Land Rent was lower than the forecast revenue,” MIRA’s September report read.

Looking at the revenue contributions, Goods and Services Tax (GST) maintained its position as top revenue contributor with 39.9% (MVR507.83 million) and Tourism Land Rent contributions reached 25.7% (MVR327.77 million). Other segments include Land Acquisition and Conversion Fee which contributed to 6.5% (MVR82.4 million) and Green Tax at 5.0% (MVR63.1 million).

Revenue collected from Airport Service Charge contributed 4.8% (MVR61.1 million) and other areas of revenue collection at 18.2% (MVR241,999).

Revenues collected in foreign currency reached USD59.4 million according to state taxation authority.

 

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