BPT collected for the first half of the year increased

Revenue from BPT has increased by 9.7% in the first 6 months of 2015. The revenue collection from BPT amounted to MVR 1.48 billion in the first 6 months of 2015, including MVR 356.3 million collected in June.

The cumulative revenue collection till June amounted to MVR 6.86 billion. This depicted a growth of 20.7% when compared with MVT 5.68 billion collected in the corresponding period of the previous year. The revenue growth is attributed to the growth in the revenue from GST, BPT and Lease Period Extension Fee. GST received for the first 6 months of 2015 has increased by 39.7%, as the tourism sector GST rate was increased to 12% from November 2014 onwards. BPT revenue increased by 9.7% and Lease Period Extension Fee registered a growth of 109.3% in the first half of the year.

The revenue collection for June 2015 totalled MVR 1.24 billion. It is 2.3% lower than the collection for June 2014, due to the lower collection of BPT in June 2015 and non-collection of Tourism Tax unlike the corresponding period of 2014. When compared against the projection, June collection fell short by 1.7%, as Tourism Land Rent was not collected as much as expected for June.

GST and BPT continue to be the highest revenue contributors in June 2015. MVR 424.6 million was received as GST and MVR 356.3 million was received as BPT in June 2015. Other top contributors to June 2015 revenue include Tourism Land Rent, Bank Profit Tax and Airport Service Charge.  

15 Jul 15