MIRA collects MVR 1 billion as revenue in October 2021

MIRA collected MVR 1 billion as revenue in October 2021. This is an increase of 155.7% compared to the same period last year. And an increase of 39.2% compared to the forecasted amount for October 2021.

The main reason behind the increase in collection compared to October 2020 is due to the increment in collection of GST, Tourism Land Rent, Green Tax and Airport Taxes and Fees. Tourist Arrivals of September 2021 is 12 times higher than September 2020, which led to increment in Tourism related revenues. Arrivals in 2020 were restricted due to Covid-19. Additionally, receipt of Tourism Land of previous deadlines contributed to this favorable outcome.

The greatest share of the revenue collected for October 2021 was from GST with MVR 584.86 million or 58.4% of total revenue. The second largest contributor was Income Tax (MVR 117.96 million or 11.8%). Other significant contributors include Tourism Land Rent (MVR 65.11 million or 6.5%), Green Tax (MVR 57.16 million or 5.7%), Airport Development Fee (MVR 50.2 million or 5.0%) and other taxes and fees (MVR 125.98 or 12.6%).

Out of the revenue collected in October 2021, USD 38.20 million constitutes the dollar collection. 

 

Related Documents: https://www.mira.gov.mv/reports/Oct%202021_Final.pdf

10 Nov 21