Maldives Inland Revenue Authority (MIRA) has recorded ten percent less than the estimated revenue last month. Statistics publicized Wednesday showed that MIRA had earned MVR579 million in revenue last month. Though the amount is 11 percent more than June last year, MIRA’s monthly revenue collection report had noted that the figure was less than the expected figure for last month.
MIRA explained that the decline was down to the fact that revenue received from Goods and Services Tax (GST) and rent from tourism land plots had not met expectations. The downward trend in rent from tourism land plots was due to the extension of the deadline of payments to June 1. However, the difference would be received this month, MIRA added.
Authority further detailed that 31.5 percent of revenue had been received from rent on tourism land plots, while 10 percent was contributed by Tourism Tax.
Last month Airport Service Charge contributed between 5.6 and 6.2 percent of the total revenue of last month.
MIRA revealed that MVR3.5 billion had been received as revenue within the last six months, which include MVR72 million as General GST, MVR58 million as Tourism Tax, MVR26 million as Withholding Tax and MVR42 million as Airport Service Charge.
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