MIRA collects MVR 461.49 as revenue in November 2020

MIRA collected MVR 461.49 million as revenue in November 2020. This is a decrease of 59.9% compared to the same period last year.

The collection is lower than November 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, payment towards Lease Period Extension Fee was received in November 2019 which also led to the comparative decrement in revenue.

The greatest share of the revenue collected for October 2020 was from GST with MVR 308.68 million or 66.9% of total revenue. The second largest contributor was Income Tax (MVR 42.09 million or 9.1%). Other significant contributors include Residential Permit (MVR 19.77 million or 4.3%), Green Tax (MVR 16.49 million or 3.6%), BPT (MVR 11.33 million or 2.5%) and other taxes and fees (MVR 63.13 or 13.7%).

Out of the revenue collected in October 2020, USD 4.68 million constitutes the dollar collection. 

 

10 Dec 20