MIRA collect MVR1.56b revenue in December 2019

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The Maldives Inland Revenue Authority (MIRA) collected a total of MVR1.56 billion in December 2019.

According to the authority’s latest monthly updates, the revenue collection for the review period showed an improvement of 8.9% from the corresponding month in 2018.

Moreover, the total income generated in the review month was also a significant increase by 26.6% from initial forecasts.

Additionally, from the total revenue generated to Maldives state through MIRA, 74.0 million was collected in US Dollars.

Revenue contribution exclusive to December 2019 indicates GST holding 42.1% of the total income. Tourism Land Rent took up 23.2% of the total earnings through MIRA in the review month.

Furthermore, Business Profit Tax collection shared 7.7% of the total earnings while Lease Period Extension Fee collection held 4.9% of the total.

The total tax revenues collected in December 2019 reached MVR919,824,558 whereas in the corresponding month in 2018 the total reached MVR853,650,672.

As for total non tax revenue collection, the total reached MVR643,652,746 in the review month compared to the MVR582,349,126 in the same month in 2018.

GST collection in the review month hit MVR658,038,239 which is an improvement from the MVR630,129,355 collected in the same month in 2018.

Business Profit Tax (BPT) collection in December 2019 hit MVR120,962,060 which was an increase from MVR84,226,879 in the same month the previous year.

As for major non-tax revenue streams, the Lease Period Extension Fee collection in December 2019 hit MVR76,700,000 while no earnings were made in the same month in 2018.

Tourism Land Rent collection in the review month hit MVR361,954,466 whereas the collection in the same month in 2018 reached MVR349,827,195.

The total revenue collection for December 2019 according MIRA reached MVR1,563,477,304 while in the same month the year before the collection hit MVR1,435,999,798.

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