MIRA collected 1.25 billion as revenue in October 2022. This is an increase of 24.6% compared to the same period last year. And an increase of 28.5% compared to the forecasted amount for October 2022.
Revenue of October 2022 is significantly higher, largely due to the increment in collection of GST, Income Tax, Airport Development Fee and Airport Service Charge. Airport taxes and Fees collection has increased with the change in the tax rate based on flying class. However, it is notable that tourist arrivals of September 2022 decreased by 2.5% compared to the corresponding month of 2021 and projection which led to a decrement in bed nights as well. Additionally, revenue collection surpassed the forecasted revenue, mainly due to the significant increment in collection of TGST, Tourism Land Rent, Airport Development Fee, Airport Service Charge and Green Tax. Moreover, Tourism Land Rent collection shows a significant increase in 2022 as the deadline of Tourism Land Rent for 4th Quarter of 2022 had been deferred to October 2022, as the deadline fell to a public holiday.
The greatest share of revenue collected for October 2022 was from GST (57.4% or MVR 716.47 million). Second largest contributor was Income Tax (10.3% or MVR 127.97 million). Other significant contributors include Tourism Land (MVR 100.51 million or 8.1%), Airport development fee (MVR 67.98 million or 5.4%), Airport service charge (MVR 64.67 million or 5.2%) and other taxes (MVR 170.71 million or 13.7%).
Out of the revenue collected in October 2022, USD 46.57 million constitutes the dollar collection.