MIRA collects MVR 1.24 billion as revenue in November 2021

MIRA collected MVR 1.24 billion as revenue in November 2021. This is an increase of 168.4% compared to the same period last year. And an increase of 51.8% compared to the forecasted amount for November 2021.

The main reason behind the increase in collection compared to November 2020 is due to the increment in collection of Income Tax, Tourism Land Rent, GST, Green Tax and Airport Taxes and Fees. Tourist Arrivals of November 2021 is 7 times higher than November 2020, which led to increment in Tourism related revenues. Arrivals in 2020 were restricted due to Covid-19. Additionally, payment towards Lease Period Extension Fee was not received in November 2020, whereas this fee was received in November 2021, which led to the comparative Increment in revenue.

The greatest share of the revenue collected for November 2021 was from GST with MVR 773.23 million or 62.2% of total revenue. The second largest contributor was Income Tax (MVR 80.99 million or 6.5%). Other significant contributors include Lease Period Extension Fee (MVR 76.60 million or 6.2%), Green Tax (MVR 75.40 million or 6.1%), Airport Development Fee (MVR 45.28 million or 3.6%) and other taxes and fees (MVR 191.94 million or 15.4%).

Out of the revenue collected in November 2021, USD 51.31 million constitutes the dollar collection. 

 

Related Documents: https://www.mira.gov.mv/reports/November 2021.pdf

 

09 Dec 21