{"id":5808,"date":"2023-04-11T10:28:41","date_gmt":"2023-04-11T05:28:41","guid":{"rendered":"https:\/\/mbt.mv\/?p=5808"},"modified":"2023-04-11T10:28:41","modified_gmt":"2023-04-11T05:28:41","slug":"state-revenues-at-mvr2-19bn-drops-by-1-2-in-march-2023","status":"publish","type":"post","link":"https:\/\/mbt.mv\/?p=5808","title":{"rendered":"State revenues at MVR2.19bn, drops by 1.2% in March 2023"},"content":{"rendered":"

The Maldives government collected a total revenue of MVR2.19 billion in March 2023, reported the Maldives Inland Revenue Authority (MIRA).<\/p>\n

According to the taxation and revenue authority, the government earned 100.99 million out of this monthly total in US Dollars. Moreover, the total revenues collected to the state went down by 1.2% compared to March 2022.<\/p>\n

The slight drop in revenues was mainly due to the decline in the collection of Corporate Income Tax and Non-resident Withholding Tax. Additionally, tourism land rent collections observed a decline in the review month compared to March 2022.<\/p>\n

Although the revenue collection observed a mild decrement when compared to the corresponding month last year, it was still 6.4% up from the initial projections. MIRA said that the revenue collection surpassed the forecast due to the increment in the collection of the tourism land rent, GGST, Airport Development Fee, Non-resident Withholding Tax, Departure Tax and Green Tax.<\/p>\n

The total tax revenues in the month stood at MVR1,688.6 million (MVR1.7 billion), and the total non-tax revenues stood at MVR496.9 million.<\/p>\n

Top Revenue Contributors<\/h4>\n
    \n
  1. GST: 60.0% | MVR1.3 billion<\/li>\n
  2. Tourism Land Rent: 14.0% | MVR305.6 million<\/li>\n
  3. Income Tax: 6.6% | MVR143.3 million<\/li>\n
  4. Green Tax: 4.8% | MVR105.4 million<\/li>\n
  5. Airport Development Fee: 4.5% | MVR99.2 million<\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"

    The Maldives government collected a total revenue of MVR2.19 billion in March 2023, reported the Maldives Inland Revenue Authority (MIRA). According to the taxation and revenue authority, the government earned 100.99 million out of this monthly total in US Dollars. Moreover, the total revenues collected to the state went down by 1.2% compared to March<\/p>\n","protected":false},"author":4,"featured_media":5809,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2424,2428],"tags":[1310,1502,1727,1981],"class_list":{"0":"post-5808","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-finance","8":"category-public-sector","9":"tag-maldives-inland-revenue-authority","10":"tag-mira","11":"tag-public-finance","12":"tag-state-revenue"},"yoast_head":"\nState revenues at MVR2.19bn, drops by 1.2% in March 2023 - 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=5808\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"State revenues at MVR2.19bn, drops by 1.2% in March 2023 - Maldives Business Times\" \/>\n<meta property=\"og:description\" content=\"The Maldives government collected a total revenue of MVR2.19 billion in March 2023, reported the Maldives Inland Revenue Authority (MIRA). According to the taxation and revenue authority, the government earned 100.99 million out of this monthly total in US Dollars. 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