According to the latest update from Maldives Inland Revenue Authority (MIRA), state revenues observed an increment of 40.1% in February 2022 when compared with the same month last year.
The latest report from MIRA indicates that the government collected total revenue of MVR1.41 billion in the review month.
Furthermore, MIRA confirmed that revenues in the review month increased when compared with the corresponding month in 2021 due to stronger earnings observed from TGST, GGST, Income Tax, and Green Tax.
In addition to this, the revenues earned to state was 17.6% higher than initial forecasts, which was due to the increment in major tax sources as well as an increment in tourism land rent.
During the review month, Maldives state collected a total of MVR1,255.8 million (MVR1.26 billion) in tax revenues and another MVR150.7 million in nontax revenues.