11.48 billion Rufiyaa collected as revenue for 2014

MIRA has collected 11.48 billion Rufiyaa as revenue for 2014. This is 8.8% more than the forecasted collection for this year and 27.8% more than the 8.98 billion Rufiyaa collected in 2013. The reasons for the increase in revenue include introduction of GST on telecommunication services, the rate change of airport service charge, and re-introduction of lease period extension fee. Furthermore, the increase in 2014 tourist arrivals and the increase in economic activity had contributed to the revenue increment.

For the month of December 2014, MIRA collected 999.3 million Rufiyaa as state revenue. This includes $51.1 million received in US dollars.

The collection of December 2014 is 31.6% more than the amount collected in December 2013. The reason for this is the increase in collection of GST, Airport Service Charge, BPT and fines.

The revenue collected in December was 5.7% less than the forecasted amount for the month. The reasons for the decrease include the difference in the collection of Tourism Land Rent than of the schedule and the decrease of tourism related income due to fewer tourist arrivals than the November forecasts.  

GST contributed the most revenue in December 2014, with 51% of the total revenue. It is followed by Tourism land rent at 25.8% and Tourism Tax at 6.9%. Additionally, Airport service charge and BPT accounted for 5.3% and 5% of the collected revenue, respectively.

08 Jan 15