According to Maldives Inland Revenue Authority (MIRA), state collected a total revenue of MVR1.41 billion for the month of September 2022.
Out of the total, it had collected 59.12 million in US Dollars.
The collection for September was a 29.0% drop in comparison with the same month last year. MIRA claims this decrement came due to the drop in the collection of Income Tax and Tourism Land Rent. Moreover, deadline for the submission of the first interim tax payment for 2021 was deferred to September last year. However, such a deadline extension was not granted this year.
Moreover, tourism land rent show significant drop since the deadline for this has been deferred to October 2022.
Despite the collection observing a drop when compared with the corresponding month last year, it was still an 11.0% improvement over initial projections for the month.
Major revenue contributors for the month include;
- GST – 45.6%
- Tourism Land Rent – 21.2%
- Income Tax – 10.6%
- Green Tax – 5.5%
- Airport Development Fee – 4.7%
State collected a total of MVR945.1 million in tax revenues for the review month, and MVR461.6 million in non-tax revenues.