MIRA collects MVR 1.51 billion as revenue in March 2019

MIRA collected MVR 1.51 billion in March 2019. This amount is 2.1% less compared to the amount received during this period last year. And also, this amount is 15.1% less than the amount forecasted for March 2019.

Compared to the corresponding period of 2018, the main reason for the decrease in revenue is due to the decline in GST revenue due to non-payment from taxpayers, despite the tourist arrivals increased by 16%, compared to last year. The reason for the decrease in revenue collected compared to the forecast is because of the decrease in the collection of GST and Tourism Land rent due to non-payment of some taxpayers.

The greatest share of the revenue collected for March 2019 was from GST with MVR 732.11 million or 48.4% of the total revenue. The second largest contributor was Tourism Land Rent (MVR 355.86 million or 23.5%). Other significant contributors include BPT (MVR 87.04 million or 5.8%), Green Tax (MVR 83.17 million or 5.5%), Airport Development Fee (MVR 67.33 million or 4.5%) and other taxes and fees (MVR 187.03 or 12.4%).

Out of the revenue collected in March 2019, USD 72.1 million constitutes the dollar collection. 

 

 

11 Apr 19