According to Maldives Inland Revenue Authority (MIRA) the total revenue collected during the month of April 2022 increased by 14.7%, reaching a monthly total of MVR1.63 billion.
Furthermore, the revenue collected for the month was up by 45.8% from initial projections.
MIRA reported that the notable improvement in the revenue collection to the state was due to the receipt of Lease Period Extension Fee as well as the increment of tourism related taxes.
Moreover, the revenue collection saw significant improvement compared to initial projections due to the increment in tourism related taxes, owing to stronger tourist arrivals in March 2022, which was up by 3.9% from the forecasted arrival total.
Furthermore, during the month of April, from the total revenue collected to state 72.65 million were collected in United States Dollars (USD).
According to the taxation and revenue authority, 60.0% of the total came from Goods and Services Tax (GST), while 9.4% of the revenue came from Lease Period Extension Fee.
The total tax revenues earned in April 2022 stood at MVR1,630.3 million and the total non-tax revenue earned for the review month was MVR362.5 million.