1 billion in national income during August

Photo: Sun

Male’, Maldives – The national revenue for the Month of August has reached MVR one billion.

Statistics released by Maldives Inland Revenue Authority (MIRA) revealed that the national income was at MVR 1.71 billion. According to MIRA, the reason for the sudden increase in revenue is likely due to the deadline for paying all due taxes, which was by August.

Looking at the taxes, 46 percent of the revenue consisted of income tax, which totals up to MVR 783 million, while Business Profit Tax (BPT) contributed to the second largest portion of the monthly income at 28.7 percent. This is MVR 474 million.

Lastly, GST contributed to 17.2 percent of the revenue, being MVR 293 million.