MIRA collects MVR 1.19 billion as revenue in June 2021

MIRA collected MVR 1.19 billion as revenue in June 2021. This is an increase of 326.2% compared to the same period last year. And an increase of 3.2% compared to the forecasted amount for June 2021.

The main reason behind the increase in collection compared to June 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 June 2020, which resulted in the decline of tourism sector activities and activities in other sectors which lead to the decline in revenue collection in June 2020. In comparison to June 2020, the collection from major taxes such as Income Tax, GST, Green Tax, Airport Development Fee, Airport Service Charge and Tourism Land Rent increased during June 2021. Apart from this, government offices were closed during May 2021 as a precautionary measure against covid-19, which resulted in major tax deadlines being postponed to June 2021.

The greatest share of the revenue collected for June 2021 was from GST with MVR 529.38 million or 44.6% of total revenue. The second largest contributor was Tourism Land Rent (MVR 369.53 million or 31.1%). Other significant contributors include Income Tax (MVR 94.80 million or 8.0%), Green Tax (MVR 59.90 million or 5.0%), Airport Development Fee (MVR 30.34 million or 2.6%) and other taxes and fees (MVR 102.64 or 8.6%).

Out of the revenue collected in June 2021, USD 54.98 million constitutes the dollar collection. 

 

Related Documents: https://www.mira.gov.mv/reports/June2021.pdf

 

 

12 Jul 21