Malé, Maldives – Maldives Inland Revenue Authority (MIRA) reveals that the revenue collected for November 2021 is an increment of 168.4 percent compared to November 2020.
MIRA states that this is mainly due to ue to the increment in collection of Income Tax, Tourism Land Rent, TGST, GGST,
Green Tax and Airport Taxes and Fees. Tourist arrivals of October 2021 is 7 times higher than October 2020, which led to the increment in Tourism
related revenues. On November 2020, there was a decline in collection of major taxes due to the impact Covid-19 pandemic.
Additionally, one-off payment towards Lease Period Extension Fee was received in November 2021 which also lead to the significant increase in revenue.
November 2021 revenue increased by 51.8% compared to forecasts for the duration.
MIRA
The monthly revenue collection report states that GST tax contributed to 62.2 percent of the total revenue for November 2021, while the Income tax collected was at 6.5 percent, lease period extension fee at 6.2 percent, green tax 6.1 percent and airport development fee at 3.6 percent.
USD 51.31 million was collected as dollar revenue in November 2021. Dollar revenue contributions include GST (61.4 percent), lease period extension fee (9.7 percent) and green tax (9.6 percent) as the highest contributors.
