MIRA collects MVR 1.27 billion as revenue in August 2021

MIRA collected MVR 1.27 billion as revenue in August 2021. This is a decrease of 25.4% compared to the same period last year. And a decrease of 3.0% compared to the forecasted amount for August 2021.

The main reason behind the decrease in collection compared to August 2020 is the situation that has arised due to the covid-19 pandemic. Due to this, the income earned by businesses during the year decreased which caused a decrease in Income Tax collection. Additionally, payment towards Lease Period Extension Fee was received in August 2020, whereas this fee was not received in August 2021, which led to the comparative decrement in revenue.

The greatest share of the revenue collected for August 2021 was from GST with MVR 685.41 million or 53.8% of total revenue. The second largest contributor was Income Tax (MVR 305.27 million or 24.0%). Other significant contributors include Green Tax (MVR 75.62 million or 5.9%), Work Permit Fee (MVR 40.18 million or 3.2%), Airport Development Fee (MVR 33.81 million or 2.7%) and other taxes and fees (MVR 133.42 or 10.5%).

Out of the revenue collected in August 2021, USD 36.92 million constitutes the dollar collection. 

 

Related Documents: https://www.mira.gov.mv/reports/August_2021.pdf

 

12 Sep 21