MIRA collects MVR 783.88 million as revenue in May 2021

MIRA collected MVR 783.88 million as revenue in May 2021. This is a decrease of 283.6% compared to the same period last year. And a decrease of 16.7% compared to the forecasted amount for May 2021.

The main reason behind the decrease in collection compared to May 2020 was due to the fact that Male’ was under lockdown and the airport boarder was closed as a preventive measure against covid-19 during May 2021. This resulted in the decline of tourism sector activities and activities in other sectors which lead to the decline in collection of major taxes such as Income Tax, GST, Green Tax, Airport Development Fee, Airport Service Charge and Tourism Land Rent. Another factor that contributed to the decline in revenue collection was due to government offices being closed during this period as a precautionary measure against covid-19, which resulted in major tax deadlines being postponed.

The greatest share of the revenue collected for May 2021 was from GST with MVR 496.19 million or 63.3% of total revenue. The second largest contributor was Green Tax (MVR 52.68 million or 6.7%). Other significant contributors include Airport Development Fee (MVR 33.44 million or 4.3%), Airport Service Charge (MVR 32.74 million or 4.2%), Work Permit Fee (MVR 29.32 million or 3.7%) and other taxes and fees (MVR 139.51 or 17.8%).

Out of the revenue collected in May 2021, USD 32.79 million constitutes the dollar collection. 

 

Related Documents: https://www.mira.gov.mv/reports/May2021.pdf

 

10 Jun 21