According to Maldives Inland Revenue Authority (MIRA) the state revenue collection hit MVR1,981.6 million (MVR1.98 billion) in September 2021.
Moreover, as per the taxation and revenue authority the revenue to state in the review month observed an increment of 133.5% when compared with the same month in 2020.
MIRA had reported that the significant increment of revenue in the review month comes due to increase in the collection of Income Tax, Tourism Land Rent, TGST, GGST, Green Tax, Airport Taxes and Fees.
Tourism Land Rent collection showed significant increase owing to the deference of the rent of Q4-2020, which were received according to the schedule in 2021 coinciding with the review month.
In addition to this, the deadline for the Income Tax first interim return and payment for 2021 was deferred to September as well.
Moreover, the revenue to state in September observed an 8.6% increase from the initial projection for the month, mainly due to the increment in the collection of TGST, Income Tax, Green Tax, Airport taxes and fees as well as GGST.
From the total revenue collected during the review month, state earned 63.45 million in US Dollars.
Furthermore, Income Tax contributed the most significantly in the review month with 37.6% of the total revenue coming from the said stream. GST on the other hand covered 27.9% of the total revenue earned while Tourism Land Rent covered 20.7% of the total revenue.
Meanwhile, the total tax revenues reached MVR1,425.0 million (MVR1.4 billion) while non-tax revenues reached MVR556.6 million.