MVR 1.7 Billion collected in revenues during January 2021

Taxpayer Service Center of MIRA | Photo: Sun

Malé, Maldives – Maldives Inland Revenue Authority has said that the authority had collected MVR 1,786,971,799.48 (USD 115,886,627.72) in January 2021 as revenue.

According to MIRA, this is 1.2 percent lower than the revenue which the state received in January 2020. MIRA stated that TGST collection was higher compared to January of last year as resorts had reported higher sales even though the occupancy was lower. MIRA also stated that major taxes such as Green Tax and Airport Development Fee has declined due to the impact of Covid-19 pandemic.

MIRA also stated that the income of MVR 1.7 billion which the state received in revenues were 76.8 percent higher than the projections made for the month. MIRA reported that higher sales of high-end resorts also made a major contribution to the increased TGST payments than which was forecasted. The state had received MVR 509 million from TGST in January 2021 while receiving only MVR 224 million in GST income.

In addition to this, MIRA also reported an income of MVR 41 million in Individual Income Tax alone.

MIRA had received the highest non-tax income from tourism land rent with the state receiving MVR 52 million. The state had also received MVR 23 million in airport development fee and MVR 21 million in resident permits in the same month.