According to the latest updates from Maldives Inland Revenue Authority (MIRA) the state government collected a revenue total of MVR4.28 billion during the last quarter of 2021.<\/p>\n
Moreover, according to the taxation and revenue authority the revenue collected in the review period observed a 126.0% growth when compared with the corresponding quarter in 2020.<\/p>\n
In addition to this, the revenue collection for the review period also increased by 47.4% when compared with initial projections for the quarter.<\/p>\n
MIRA reported that the hike in revenue collection is mainly attributed to the increment in TGST, GGST, Tourism Land Rent, Green Tax, Airport Development Fee and Airport Service Charge.<\/p>\n
Apart from this, the receipt of Lease Period Extension Fee, collected in the review quarter had also pushed up the total revenue figure up.<\/p>\n
Furthermore, MIRA had reported that in light of tourism arrival growth by 6 times the number of arrivals in Q4-2020, tourism related taxes showed a steep increment while non-tax revenues related with the tourism industry had also observed increment.<\/p>\n
Additionally, the commencement in collection of deferred rent for Q3-2020 and Q4-2020 commenced from June 2021 onward, which reflected on Tourism Land Rent collection increasing by 86.7%, compared to the final quarter of 2020.<\/p>\n
During the period, state collected a total of MVR3.01 billion in tax revenues, which observed a 122.2% growth when compared with the corresponding quarter in 2020 and a 49.0% growth when compared with initial projections.<\/p>\n
On the other hand, state collected a total of MVR1.27 billion in non-tax revenues which had observed a 135.5% growth when compared with Q4-2020 and a 43.6% increment when compared with initial projections.<\/p>\n","protected":false},"excerpt":{"rendered":"
According to the latest updates from Maldives Inland Revenue Authority (MIRA) the state government collected a revenue total of MVR4.28 billion during the last quarter of 2021. Moreover, according to the taxation and revenue authority the revenue collected in the review period observed a 126.0% growth when compared with the corresponding quarter in 2020. In<\/p>\n","protected":false},"author":4,"featured_media":2766,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2423,2424],"tags":[1310,1502,1603,1727,1981,2038,2039],"class_list":{"0":"post-2790","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"category-finance","9":"tag-maldives-inland-revenue-authority","10":"tag-mira","11":"tag-non-tax-revenue","12":"tag-public-finance","13":"tag-state-revenue","14":"tag-tax-revenue","15":"tag-taxation"},"yoast_head":"\n