Malé, Maldives – Maldives Inland Revenue Authority has said that the authority had collected MVR 108,504,405.36 (USD 7,042,354.73) in second week of February 2021 as revenue.
According to the weekly revenue collection report published by MIRA the government received the highest income from ‘Other Taxes and Fees’ category with a total of MVR 27.7 million.
Following this, the highest income was collected as GST followed by TGST. Government has collected MVR 17.5 million in GST while collecting MVR 17 million in TGST in the second week of February.
Government also received MVR 22.3 million in airport service charge and airport development fees combined. In addition to this, government received MVR 5.3 million in corporate income tax /business profit tax, MVR 8 million in non-resident withholding tax and only MVR 7.7 million as green tax during this period.
MIRA had reported earlier that the authority had collected MVR 1,786,971,799.48 (USD 115,886,627.72) in January 2021 as revenue which was 76.8 percent higher than the projections made for the month.
According to MIRA, the drop of income was a result of declined tourist arrivals due the Covid-19 pandamic which has lead to the decline in the economic activity of the country and tax collection from the tourism sector. The taxation authority also stated that these factors also contributed to the decline of GST and Green Tax as well.