Maldives government earned a quarterly revenue of MVR5.29 billion for the second quarter of 2022.
Maldives Inland Revenue Authority (MIRA) confirms this, on their quarterly update.
According to the authority, earnings for the review quarter observes a 55.8% increment in comparison with same quarter in 2021. In addition to this, it was a 50.2% increment from initial projection.
Main revenue drivers for the state during review quarter include;
- Income Tax
- GST
- Land Acquisition Conversion Fee
- Airport Taxes and Fees
In addition to this, a receipt of USD10 million as Lease Period Extension Fee also drove up the revenue for the review quarter.
The quarterly total of tax revenue for Q2-2022 hit MVR3.98 billion, which is a 59.9% increment from same quarter in 2021. It is also a 44.1% improvement upon initial projection.
Meanwhile, state observes an earning of MVR1.31 billion in non-tax revenue for the quarter. This was a 44.7% increment from corresponding Q2-2021, and a 72.4% increment from initial projection.