The Maldives government collected a total revenue of MVR2.58 billion in December 2022, reports Maldives Inland Revenue Authority (MIRA).
MIRA reports a 27.4% increment in revenues when compared with December 2021. The authority said the increment in the collection of the Lease Period Extension Fee, GGST, Income Tax, and Non-Resident Withholding Tax contributed most towards the overall revenue increase.
Additionally, the revenues collected in the review month were up by 77.0% from the initial projection. This was due to the significant increment in the collection of TGST, GGST, and Non-Resident Withholding Tax.
Top Revenue Contributors
- GST: 34.2% | MVR882.4 million
- Lease Period Extension Fee: 34.1% | MVR882.02 million
- Tourist Land Rent: 13.9% | MVR359.5 million
- Income Tax: 5.1% | MVR130.5 million
- Green Tax: 2.9% | MVR75.76 million
MIRA reports a total MVR1.16 billion in tax revenues, and a total MVR1.42 billion in non-tax revenues for the review month.