The Maldives government has earned a revenue of MVR 2.30 billion in September 2024, which is a 93.1% increase compared to the same month last year.
According to Maldives Inland Revenue Authority (MIRA), this revenue increment was due to the increase in the receipt of GGST, TGST and Tourism Land Rent, and due to the receipt of Lease Period Extension Fee and Land Acquisition and Conversion Fee.
MIRA also reports that the revenue posted for September 2024 is a 28.7% increment from initial project, on the back of higher-than-projected earnings; mainly because of the receipt of Lease Period Extension Fee and Land Acquisition and Conversion Fee.
Top Revenue Contributors
- GST: 44.5% (MVR 1.02 billion)
- Tourism Land Rent: 15.7% (MVR 360.8 million)
- Lease Period Extension Fee: 10.0% (MVR 229.9 million)
- Income Tax: 7.6% (MVR 174.9 million)
- Airport Development Fee: 4.4% (MVR 101.8 million)