MIRA collects MVR 951.3 million as revenue for May 2015

MIRA has collected 951.3 million Rufiyaa as revenue for May 2015. This is 18.9% more than the amount collected in May 2014.

The reasons for the increase in revenue include increase in collection of Tourism Sector GST by 45.6% (primarily due to TGST rate change to 12% in November 2014), increase in collection of Tourism Land Rent and associated fines following the implementation of enforcement policies.

MIRA has collected MVR 5.61 billion as revenue in the first five months of 2015. This amount is 27.3% more than the amount collected in the same period of 2014. The reasons for the increase in revenue collected during this period include increase in collection of Tourism Sector GST (primarily due to TGST rate change to 12% in November 2014), and collection of lease period extension fee from May 2015. GST collection amounts to 51% of the total revenue collected in the first five months of 2015.

The amount collected in May includes $44.2 million received in US dollars.

The collection for May 2015 is 2.7% more than the forecasted amount for this month. The reasons for this include increased collection of Tourism Land Rent and associated fines following the implementation of enforcement policies.

GST contributed the most revenue in May 2015, with 51.5% (Rufiyaa 490.01 Million) of the total revenue. It is followed by Lease Period Extension Fee at 21.6% (Rufiyaa 205.16 Million). Additionally, Tourism Land Rent, BPT and Airport Service Charge accounted for 9.3% (Rufiyaa 88.35 Million), 4.7% (Rufiyaa 44.41 Million) and 3.9% (Rufiyaa 37.06 Million) of the collected revenue, respectively.

09 Jun 15