Maldives Inland Revenue Authority (MIRA) has recorded a revenue of MVR 1.32 billion in August this year which is an increase of 3.6% compared to last year. The amount is also a 5.9% increase compared to the projected revenue for August this year.
The tax authority said the Goods and Services Tax (GST) contributed to the largest share in revenue collected by MIRA with a total of 48.7% of revenue which amounts to MVR 645.81 million. Meanwhile, income tax contributed MVR 263.8 million and MVR 76.50 million as Lease Period Extension Fee. Moreover, MVR 73.09 million was earned from Green Tax and further MVR 69.43 million as Airport Development Fee.
MIRA revealed revenue for August 2022 is significantly higher, largely due to the increment in the collection of Tourism Goods and Services Tax (TGST), Airport Development Fee, and Airport Service Charge. Tourist arrivals in July increased by 31.2% compared to July 2021, which led to the favourable outcome for TGST and Airport Taxes and Fees, according to MIRA.