MIRA collects MVR 843.04 as revenue in September 2020

MIRA collected MVR 843.04 million as revenue in September 2020. This is a decrease of 30.9% compared to the same period last year.

The collection is lower than September 2019 due to the impact of the Covid-19 pandemic. The decrease in tourist arrivals, resulting in decline in economic activity and tax collection from tourism sector, led to the decline in collection of major taxes such as GST and Green Tax. Additionally, Tourism Land Rent deadlines were extended, contributing to the lower collection than the corresponding period.  

The greatest share of the revenue collected for September 2020 was from Income Tax with MVR 385.57 million or 45.7% of total revenue. The second largest contributor was GST (MVR 217.16 million or 25.8%). Other significant contributors include BPT (MVR 150.13 million or 17.8%), Residential Permit (MVR 21.06 million or 2.5%), Zakat al-Mal (MVR 11.07 million or 1.3%) and other taxes and fees (MVR 58.04 or 6.9%).

Out of the revenue collected in September 2020, USD 6.74 million constitutes the dollar collection. 

 

 

11 Oct 20