MVR 994 million collected as tax revenue in February

Maldives Inland Revenue Authority (MIRA) has announced the authority collected MVR 994.12 million as tax revenue in February.

The monthly revenue collection report released by MIRA shows the tax revenue collected in February is 41.2 percent higher than previously projected.

MIRA attributed the increase in tax revenue to higher tourist arrivals than previously projected, an increase in duration of stay by tourists, and an increase in revenue from airport taxes and fees as well as Green Tax.

The 994.12 million collected as tax revenue in February includes USD 41.71 million.

The biggest contribution to tax revenue in February came from Goods and Services Tax (GST). MIRA collected MVR 672 million as GST, which made for 67.7 percent of the total revenue.

The second biggest contribution to tax revenue came from Income Tax. MIRA collected MVR 107 million as Income Tax in February, which made for 10.8 percent of total tax revenue.

MIRA also collected MVR 63.5 million as Green Tax, which made for 6.4 percent of total revenue.

MIRA collected MVR 34 million as Airport Development Fee, MVR 33.4 million as Airport Service Charge, MVR 4.6 million from issuance of Business Permit, and 10.3 million in fines.

MIRA also collected MVR 15.9 million from issuance of Residential Permit, and MVR 7 million as Non-tourism Property Income.

The report shows MIRA received MVR 4.7 million as Zakat Al Mal in February.