MIRA collects MVR 1.28 billion as revenue in May 2022

MIRA collected MVR 1.28 billion as revenue in May 2022. This is an increase of 63.0% compared to the same period last year. And an increase of 12.8% compared to the forecasted amount for May 2022.

Revenue of May 2022 is higher than May 2021 due to the increase in tourist arrivals in April, by 59.3% compared to April 2021, and consequent increase in tourism related revenues; namely TGST and Green Tax. Airport taxes and Fees collection has increased with the change in the tax rate based on flying class. Furthermore, a significant increment in GGST and Non-Resident Withholding Tax was realized for May 2022.

The greatest share of the revenue collected for May 2022 was from GST with MVR 829.44 million or 64.7% of total revenue. The second largest contributor was Income Tax (MVR 105.85 million or 8.3%). Other significant contributors include Green Tax (MVR 96.58 million or 7.5%), Airport Development Fee (MVR 60.61 million or 4.7%), Airport Service Charge (MVR 59.80 million or 4.7%) and other taxes and fees (MVR 129.81 million or 10.1%).

Out of the revenue collected in May 2022, USD 53.47 million constitutes the dollar collection.

 

09 Jun 22