MIRA collects MVR 927.61 million as revenue in October

MIRA collected MVR MVR 927.61 million in October 2019. This amount is 10.1% less than the amount received for the same month last year and 6.8% more than the forecast for October 2019.

Compared to October 2018, revenue received from GGST, TGST, BPT and Green Tax during October 2019 declined significantly, due to observed non-payment by deadline from taxpayers. Additionally, one-off payments were received towards Land Acquisition and Conversion Fee in October 2018, whereas only subsequent payments were received in October 2019.

Revenue from October 2019 is higher than the forecasted revenue for the month due to having received late payments of Tourism Land Rent from past deadlines, which was not accounted for in projection. However, major tax revenues decreased in comparison to projection.

The greatest share of the revenue collected for October 2019 was from GST with MVR 554.88 million or 59.8% of total revenue. The second largest contributor was Tourism Land Rent (MVR 79.07 million or 8.5%). Other significant contributors include Green Tax (MVR 53.02 or 5.7%), Airport Development Fee (MVR 51.55 million or 5.5%), Airport Service Charge (MVR 50.36 million or 5.4%) and other taxes and fees (MVR 139.13 million or 15%).

Out of the revenue collected in October 2019, USD 35.40 million constitutes the dollar collection.

Related documents: https://www.mira.gov.mv/reports/Oct19.pdf

 

12 Nov 19