1.55 billion Rufiyaa collected as revenue for January 2015

MIRA has collected 1.55 billion Rufiyaa as revenue for January 2015. This is 18% more than the amount collected in January 2014. The reasons for the increase in revenue include increase in collection of Tourism Sector GST by 62.7% (primarily due to TGST rate change to 12% in November 2014), increase in collection of General Sector GST by 17.3%, 13.2% higher collection of BPT compared to January 2014 and collection of lease period extension fee which was not collected in January 2014. In other notable changes, the airport service charge revenue decreased by 4.1% and the amount of tourism tax collected was very small as collection of GST was brought to an end in November 2014.

The amount collected in January includes $48.8 million received in US dollars.

The collection for January 2015 is 3.8% less than the forecasted amount for this month. The reasons for this includes the decrease in tourism related revenues as tourist arrivals did not meet expectations, and the collection of BPT Second Interim Payment in February as the deadline was moved to 1st February because 31st January fell on a weekend.

BPT contributed the most revenue in January 2015, with 48.2% (Rufiyaa 744.4 Million) of the total revenue. It is followed by GST at 38.7% (Rufiyaa 597.9 Million) and Lease Period Extension Fee at 5.2% (Rufiyaa 80.4 Million). Additionally, Airport service charge and Resident Permit accounted for 2.6% (Rufiyaa 40.9 Million) and 1.2% (Rufiyaa 18.2 Million) of the collected revenue, respectively.

10 Feb 15