The Maldives Inland Income Authority (MIRA) earned MVR 1.24 billion in total revenue in November, a 168 percent increase over the previous year.
According to MIRA’s monthly revenue collection report, overall income collected in November was 51.8 percent more than expected revenue for the month, and 168.4 percent higher than revenue collected in November 2020.
The increase in income in November was attributable to an increase in the collection of Income Tax, Tourism Land Rent, TGST, GGST, Green Tax, and Airport Taxes and Fees, according to the country’s taxation office.
It also stated that visitor arrivals were seven times greater in October this year than in October 2020, resulting in an increase in tourism-related income.
A one-time payment for the Lease Period Extension Fee received in November also contributed significantly to the rise in revenue, according to the MIRA.
According to MIRA statistics, the biggest revenue sources in November were GST (773.23 million), Income Tax (80.99 million), Lease Period Extension (76.60 million), Green Tax (75.40 million), Airport Development Fee (45.28 million), and miscellaneous taxes and fees (MVR 191.94 million).
