Maldives state collects MVR1.03 billion in October

Photo: Avas Online

Maldives Inland Revenue Authority (MIRA) – state’s taxation authority – has confirmed it has collected MVR1.03 billion in total as tax receivables and other form receipts including fines and fees.

The revenue collected to Maldives taxation authority in October marks a 3.9% growth from the revenue collected in the same period last year while the figure also exceeds previously forecast figures by 9.6 percent.

MIRA confirms the largest share of revenue collected was contributed by Goods and Services Tax (GST) collected, with a share of 61.7% of the total revenue which translates to MVR636.93 million. The authority collected Business Profit Tax (BPT) as the next most profitable income source with a share of 5.8% which is MVR59.94 million.

Green Tax collected during the period reached MVR56.77 million (5.5%) while tourism land rent collected during October hit MVR46.32 million (4.5%) and airport development fee collected reached MVR43.18 million (4.2%).

Other tax variables and fees collected during October reached MVR188.71 million which marks an 18.3% share in the total revenue percentage.

MIRA further confirmed of the total revenue collected by the authority a total of 38.5 million was collected in US Dollars.

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