Maldives Inland Revenue Authority (MIRA) revealed that the state earned a total of MVR1.28 billion of revenue in May 2022.
Out of the total revenue earned to the state, 53.47 million were collected in foreign currencies.
The government revenue collection had observed a 63.0% increment when compared to the same period in 2021, owing to the increment tourism related revenues such as TGST, Green Tax and airport taxes and fees.
Furthermore, state earnings for the review month increased by 12.8% compared to initial projections mainly due to the significant increase in GGST, TGST as well as non-resident withholding tax.
State earned 64.7% of its revenue in GST and 8.3% in Income Tax with another 7.5% earned from Green Tax.
The total tax revenue collection reached MVR1,097.1 million (MVR1.1 billion) in May 2022 while the total non-tax revenue collection reached MVR185.0 million.