Revenue collection till end of February this year increased by 31.4%

The revenue collection by MIRA till end of February 2016 has increase by 31.4% compared to the same period of last year. MIRA has collected MVR 3.2 billion Rufiyaa as revenue for first two months of this year.

MIRA has collected MVR 1.5 billion as revenue in February 2016. This amount is 66.1% more than the amount collected in February 2015. Also it is 26.6% more than the projection for February.  The amount collected in February 2016 includes $79.8 million received in US dollars.

The main reason for the increase in revenue collected during February is due to the increase in collection of Tourism Sector GST. This being primarily due to the increased number of tourists visiting Maldives by 11.7% when compared to the same period of the previous year, and also collection of Green Tax.

GST contributed the most revenue in February 2016, with 34.7% (MVR 522.4 Million) of the total revenue. It is followed by Tourism Land Acquisition and Conversion Fee with 31.3% (MVR 471.2 Million) of the total revenue. Additionally, Lease Period Extension Fee accounted for 18.4% (MVR 277.5 Million) and Business Profit Tax at 5.1% (MVR 77.4 Million)  and Green Tax at 3.1% (MVR 46.6 Million) of the total revenue.

 

Related documents

https://www.mira.gov.mv/reports/Feb2016.pdf

10 Mar 16