MIRA collects MVR 1.98 billion as revenue in September 2021

MIRA collected MVR 1.98 billion as revenue in September 2021. This is an increase of 133.5% compared to the same period last year. And an increase of 8.6% compared to the forecasted amount for September 2021.

The main reason behind the increase in collection compared to September 2020 is due to the increment in collection of Income Tax, Tourism Land Rent, GST, Green Tax and Airport Taxes and Fees. Receipt from Tourism Land Rent shows a significant increase since the deadline of Tourism Land Rent for 4th Quarter of 2020 was deferred but the payments were received according to the schedule in 2021. Additionally, the deadline for the submission of Income Tax 1st Interim Return and Payment for 2021 was also deferred to September 2021.

The greatest share of the revenue collected for September 2021 was from Income Tax with MVR 745.00 million or 37.6% of total revenue. The second largest contributor was GST (MVR 553.11 million or 27.9%). Other significant contributors include Tourism Land Rent (MVR 410.14 million or 20.7%), Green Tax (MVR 72.37 million or 3.7%), Airport Development Fee (MVR 53.02 million or 2.7%) and other taxes and fees (MVR 147.98 or 7.5%).

Out of the revenue collected in September 2021, USD 63.45 million constitutes the dollar collection. 

 

Related Documents: https://www.mira.gov.mv/reports/September_2021.pdf

 

11 Oct 21