Tax revenue surpasses forecast, MVR 1.41 billion in April 2021

Taxpayer Service Center of MIRA | Photo: PSM

Malé, Maldives – Maldives Inland Revenue Authority has said that the authority had collected MVR ,414,663,477 (USD 66,049,77) in April 2021 as tax revenue, surpassing forecasts for the month by 82.6 percent.

According to MIRA, this is 173.8 percent higher than the tax revenue which the state received in April 2020. MIRA stated that TGST, GST, Tourism Land Rent, Income Tax, Green tax, Airport Development Fee, and Airport Service Charge collection lead to the increase in April 2021.

The opening of border and taxable sales reported by resorts being significantly higher than for forecast with an increase in tourist arrivals, collection og Green Tax, Airport Service Charge and Airport Development Fee was also higher than the forecast.

MIRA reported that higher sales of resorts also made a major contribution to the increased TGST payments than which was forecasted. The state had received MVR 611 million from TGST in April 2021, while collecting MVR 238 million as GST. The total Goods and Services Tax is at MVR 849 million which is 60.1% of the total revenue.

MIRA had received MVR 139 million from tourism land rent with the state receiving . The state had also received MVR 39 million in airport development fee and MVR 38 million in airport service charges in the same month.

In addition to this, MIRA also reported an income of MVR 75 million in Individual Income Tax alone.