State earned a total of MVR1.32 billion revenue in August 2022, reports Maldives Inland Revenue Authority (MIRA).
The revenue earned for the review month was a 3.6% increase from the same month in 2021. This increment comes largely from the surge in the collection of TGST, airport development fee and airport service charge. Tourist arrivals in July 2022 saw a 31.2% increment compared to corresponding month last year, which led to favorable outcome in tourism-related receipts (carried forward to August).
Moreover, the revenue earned in August 2022 is a 5.9% increment from initial projection as well. This increment comes due to the significant bump in TGST, income tax, airport taxes and fees.
GST held the highest revenue share at 48.7% while income tax was the second strongest revenue stream in August with a share of 19.9%. Lease period extension fee covered 5.8% of the total revenue to state while green tax covered 5.5%.
State earned MVR1.07 billion in tax revenues while it had earned MVR252.7 million in non-tax revenues.
Top revenue streams for state in August 2022 include;
- GST – MVR645,813,860
- Income Tax – MVR263,856,840
- Lease Period Extension Fee – MVR76,500,000
- Green Tax – MVR73,090,374
- Airport Development Fee – MVR69,426,088