State Revenue Reaches MVR 1.5 Billion

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Maldives Inland Revenue Authority (MIRA) has earned the state MVR 1.5 billion in revenue.

According to MIRA’s monthly revenue collection report, this year’s March revenue shows an increase of 16.2 percent in comparison with last year. The revenue earned by MIRA this March was 28 percent more than the expected revenue.

MIRA collected USD 71.2 million in March, while Business Profit Tax (BPT) contributed MVR 112 million. Goods and Service Tax (GST) was registered at MVR 780 million.

MIRA attributed this increase to the increment in taxes and increase in tourist arrivals. The Airport Development Fees also added to the increase in the revenue.

GST collection contributed to 50 percent of the total revenue in March.

Earlier in February, MIRA collected MVR 1.3 billion as revenue, with 63.7 percent of total revenue contributed by GST.

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