MIRA collects MVR 624.07 million as revenue in July 2021

MIRA collected MVR 624.07 million as revenue in July 2021. This is decrease of 6.2% compared to the same period last year. However, an increase of 13.6% compared to the forecasted amount for July 2021.

The main reason behind the decrease in collection compared to June 2020 was due to the government being closed for Eid holidays. Due to this, major tax deadlines were postponed to the following month. In comparison to July 2020, there is a decrease in the collection from major taxes such as Income Tax, GGST, Green Tax, Land Sales Tax in July 2021. Additionally, payment towards Land Acquisition and Conversion Fee was received in July 2020 lead to the comparative decrement in revenue. This fee was not received in July 2021.

The greatest share of the revenue collected for July 2021 was from GST with MVR 291.59 million or 46.7% of total revenue. The second largest contributor was Tourism Land Rent (MVR 111.90 million or 17.9%). Other significant contributors include Income Tax (MVR 109.64 million or 17.6%), Green Tax (MVR 28.19 million or 4.5%), Work Permit Fee (MVR 25.92 million or 4.2%) and other taxes and fees (MVR 56.82 or 9.1%).

Out of the revenue collected in July 2021, USD 21.10 million constitutes the dollar collection. 

 

Related Documents: https://www.mira.gov.mv/reports/July2021.pdf

 

10 Aug 21