Maldives government earned a quarterly revenue of MVR5.29 billion for the second quarter of 2022.
Maldives Inland Revenue Authority (MIRA) confirms this, on their quarterly update.
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According to the authority, earnings for the review quarter observes a 55.8% increment in comparison with same quarter in 2021. In addition to this, it was a 50.2% increment from initial projection.
Main revenue drivers for the state during review quarter include;
- Income Tax
- GST
- Land Acquisition Conversion Fee
- Airport Taxes and Fees
In addition to this, a receipt of USD10 million as Lease Period Extension Fee also drove up the revenue for the review quarter.
The quarterly total of tax revenue for Q2-2022 hit MVR3.98 billion, which is a 59.9% increment from same quarter in 2021. It is also a 44.1% improvement upon initial projection.
Meanwhile, state observes an earning of MVR1.31 billion in non-tax revenue for the quarter. This was a 44.7% increment from corresponding Q2-2021, and a 72.4% increment from initial projection.
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