905.7 million Rufiyaa collected as revenue for February 2015

MIRA has collected 905.7 million Rufiyaa as revenue for February 2015. This is 84.7% more than the amount collected in January 2014. The reasons for the increase in revenue include increase in collection of Tourism Sector GST by 32.7% (primarily due to TGST rate change to 12% in November 2014), increase in collection of General Sector GST by 18.9%, 232% higher collection of BPT compared to January 2014 and collection of lease period extension fee which was not collected in January 2014. The reason for the 232% increase in collection of BPT was the collection of BPT Second Interim Payment in February as the deadline was moved to 1st February because 31st January fell on a weekend.

The amount collected in February includes $41.1 million received in US dollars.

The collection for February 2015 is 17.6% less than the forecasted amount for this month. The reasons for this includes the decrease in tourism related revenues by 17% as tourist arrivals did not meet expectations, and the collection of GST in March as the deadline was moved to 1 March because 28 February fell on a weekend.

GST contributed the most revenue in February 2015, with 41.8% (Rufiyaa 378.82 Million) of the total revenue. It is followed by Lease Period Extension Fee at 21% (Rufiyaa 190.17 Million) and BPT at 20.8% (Rufiyaa 188.28 Million). Additionally, Tourism Land Rent and Airport service charge accounted for 3.8% (Rufiyaa 34.42 Million) and 3.7% (Rufiyaa 33.88 Million) of the collected revenue, respectively.

MIRA has collected a total of Rufiyaa 2.45 billion as of February 2015. This is 36.2% more than the amount collected for the first two months in 2014.

10 Mar 15