MIRA collects about MVR 1 billion more revenue in first quarter of 2015 than first quarter of 2014

The MIRA has collected MVR 3.72 billion as revenue in the first quarter of 2015. This amount is 33.6% more than the amount collected in the first quarter of 2014.

 

The reasons for the increase in revenue collected in first quarter of 2015 include increase in collection of Tourism Sector GST by 44.1% (primarily due to TGST rate change to 12% in November 2014), collection of lease period extension fee which was not collected in first quarter of 2014 and 26.6% increase in collection of BPT.

 

MIRA has collected 1.27 billion Rufiyaa as revenue for March 2015. This is 29% more than the amount collected in March 2014. The reasons for the increase in revenue include increase in collection of Tourism Sector GST by 39.1% (primarily due to TGST rate change to 12% in November 2014), increase in collection of General Sector GST by 33.8%, increase in collection of Tourism Land Rent by 22.8%, collection of lease period extension fee which was not collected in March 2014 and revenue from fines increasing 9 folds compared to March 2014.

The amount collected in March includes $63.7 million received in US dollars.

The collection for February 2015 is 18.8% more than the forecasted amount for this month. The reasons for this includes the collection of GST in March as the deadline was moved to 1 March because 28 February fell on a weekend and collection of lease period extension fee in March.

GST contributed the most revenue in March 2015, with 58.5% (Rufiyaa 741.94 Million) of the total revenue. It is followed by Tourism Land Rent at 22.3% (Rufiyaa 283.21 Million) and Airport Service Charge at 4.2% (Rufiyaa 53.01 Million). Additionally, BPT and Lease Period Extension Fee accounted for 3.9% (Rufiyaa 49.97 Million) and 3.6% (Rufiyaa 45.29 Million) of the collected revenue, respectively.

09 Apr 15