MIRA Collects MVR 2.8 Billion in October, 12.9% Above Estimate

The Maldives Inland Revenue Authority (MIRA) collected MVR 2.8 billion in revenue in October, according to tax statistics released by the authority today. Of the total, USD 96.24 million was received as dollar income. MIRA said October's income was 12.9% higher than the amount estimated to be received for the period, and 11.8% more than the income received in the same period last year. The authority attributed the higher-than-expected collections to increased income from GST, T-GST and non-resident withholding tax, as well as to efforts to recover unpaid taxes from previous periods. Income from those recovery efforts accounted for 19% of October's total. GST was the largest single source, contributing 58.9% of total income, or MVR 1.3 billion. It was followed by income tax at MVR 424 million (10.9% of total income), green tax at MVR 156 million (6.8%), airport development fee at MVR 151 million (6.6%), departure tax at MVR 149 million (6.5%) and work permit fee at MVR 73 million (3.2%).