MIRA collects MVR 1.18 billion as revenue in September 2023. This is a decrement of 15.8% compared to the same period last year. And it is also a decrement of 19.4% compared to the forecasted amount for September 2023.
The decrement in revenue of September 2023 compared to September 2022 is mainly due to the decrement in collection of Tourism Land Rent, GST, Non-resident Withholding tax and Corporate Income Tax. This is because the payment deadlines of these taxes were extended to the first week of October as the government declared the initial deadline as a public holiday. Furthermore, MIRA has stated that as the initial deadline was declared as a public holiday, the payment deadlines of Airport Taxes and Fees, GST and Green Tax were also extended to 1st week of October which lead to a significant decrement in the collection when compared to projection.
In September 2023, GST accounted for the largest share of revenue received by MIRA. That is 44.2% or MVR 523.05 million. The next largest revenue was from Tourism Land Rent which is 19.6% or MVR 232.29 million. Furthermore, Income Tax amounted to MVR 136.80 million (11.6%), Airport Development Fee amounted to MVR 71.19 million (6.0%), Departure Tax amounted to MVR 67.73 million (5.7%), and other taxes and fees amounted to MVR 152.42 million (12.9%).
Out of the revenue collected in September 2023, USD 49.62 million constitutes to the dollar collection.