State collected a monthly revenue total of MVR1.25 billion in October 2022, according to Maldives Inland Revenue Authority (MIRA).
MIRA reported an increment of 24.6% when compared with the same month last year. Additionally, this is a 28.5% increment from initial projections.
Revenue of October 2022 is higher in comparison with the corresponding month in 2021, due to the increment in the collection of GST, Income Tax, Tourism Land Rent, Airport Development Fee and Airport Service Charge.
Airport taxes and fees improved due to the increment in the tax rates based on flying class.
Top revenue sources to state in October 2022 include;
- GST: MVR716.5 million (57.4%)
- Income Tax: MVR127.9 million (10.3%)
- Tourism Land Rent: MVR100.5 million (8.1%)
- Airport Development Fee: MVR67.9 million (5.4%)
- Airport Service Charge: MVR64.7 million (5.2%)
Moreover, MIRA confirmed MVR981.1 million in tax revenues, and MVR266.6 million in non-tax revenues during the review month.