Maldives government revenue collection stood at a total of MVR3.39 billion by the end of the second quarter of 2021.
Moreover, Maldives Inland Revenue Authority (MIRA) reports the total collection for the period is a 238.7% increment in comparison with the corresponding quarter of 2020.
In addition to this, the collected total revenue during the review quarter has been a 32.0% improvement over initial forecasts for the period as well. According to MIRA, the quarterly revenue exceeded the initial forecasts mainly due to the increase in Tourism Goods and Services Tax (TGST) during the review quarter.
Breaking down the state revenue into tax and non-tax revenue segments, the total tax revenue collection for Q2-2021 stood at MVR2.48 billion, which is a 267.5% increment from the corresponding quarter of 2020.
On the other hand, this also marks a 42.0% improvement from the initial forecast from tax revenues for the period.
Meanwhile, the total non-tax revenue collection observed for the review period stood at MVR901.5 million, which is a 178.4% increment from the same period of 2020. Furthermore, this increment translates to a total of MVR577.75 million more when compared with Q2-2020.