Maldives government earned a total of MVR2.03 billion for the month of December 2021 as per the latest updates confirmed by Maldives Inland Revenue Authority (MIRA).
According to the publication, a total of 105.48 million out of the total state revenue for the review month were collected in United States Dollar (USD).
This revenue collection in the review month is a 95.0% increment when compared with the same month in 2020 while MIRA claimed that the increment is resultant of surges in the collection of tax revenue sources such as; TGST, GGST, Green Tax and Airport Taxes.
Meanwhile, tourist arrivals were four times higher in November 2021 compared to the corresponding month in 2020 and the tax collection carried forward to December 2021 reflected the said change.
While over 90% of increment was observed for the review month when compared to the same month last year, the revenue collected to the state is also 45.0% up from initial forecasts for the month.
As for revenue contribution compositions, GST held 47.0% of the total revenue earned for December 2021 while tourism land rent covered 24.0% of the total and lease period extension fee covered 7.6% – all were attributed as factors that lead to the eventual increment in the revenue collection for the month.
Out of the total revenue collected in December, state earned MVR1,214.0 million (MVR1.2 billion) from tax revenue sources and the remaining MVR811.6 million in non-tax revenue sources.