Dollar Revenue to State Falls 15 Percent Last Month

Dollar revenue to the state fell 15 percent last month compared with September last year, according to figures from the Maldives Inland Revenue Authority (MIRA). MIRA's statistics show that while dollar revenue declined year-on-year in September, cumulative dollar revenue so far this year has increased compared with the same period last year. Last month the state received USD 127 million in dollar revenue. That is USD 23.4 million less than the USD 150 million received in the same period last year. The biggest decline in dollar revenue last month was recorded in taxes and fees collected from passengers departing from the airport. Departure tax revenue fell by USD 1.7 million, while revenue from the Airport Development Fee (ADF) fell by USD 1.8 million. Revenue from extending the lease terms of islands leased for resorts also recorded a decrease of USD 32.6 million. Although revenue fell last month, the cumulative figures for the first nine months of this year show that dollar revenue to the state has risen. By the end of September the state had received USD 1.2 billion, an increase of USD 63.7 million compared with the same period last year. MIRA also said that of the money owed to the state in taxes and fees, MVR 623 million was recovered during the first nine months of this year. However, MIRA's figures show that the total amount owed to the state by various parties that has still not been paid remains more than MVR 14 billion.