MIRA collected MVR 2.47 billion as revenue in February 2025. This is an increment of 5.4% compared to the same period last year. Moreover, it is an increment of 5.1% compared to the forecasted amount for February 2025.
Revenue for February 2025 is higher than February 2024, mainly due to the collection of Lease Period Extension Fee and the increment in collection of Corporate Income Tax. Moreover, with the initial deadline for Corporate Income Tax coincided with a public holiday, resulting an extension of deadline to 2nd February 2025, which lead to the increment in collections. Additionally, tourist arrivals of January 2025 increased by 11.7% compared to January 2024, which led to an increment in collection of Green Tax and Airport Taxes & Fees.
Revenue of February 2025 is higher by 5.1% compared to projections was mainly resulted by the collection of Lease Period Extension Fee during this month, which are one-off payments which impacted positively to the overall revenue thus, lead to a favorable outcome compared with projections. Furthermore, the higher collection of Corporate Income Tax further contributed this increment. Additionally, 14.8% of the monthly revenue was recovered through dues recovery efforts, which resulted in a higher collection compared to projection.
In January 2025, GST accounted for the largest share of revenue received by MIRA which is 49.8% or MVR 1.23 billion. The next largest revenue was from Income Tax which is 16.3% or MVR 401.4 million. In addition, Lease Period Extension Fee MVR 307.2 million (12.4%), Green Tax MVR 149.7 million (6.1%), Departure Tax MVR 102.4 million (4.2%) and Airport Development Fee MVR 98.7 million (7.2%),
Out of the revenue collected in February 2025, USD 118
million constitutes the dollar collection.
For more information:
https://www.mira.gov.mv/Files/GetFile/c8f7f5b1-7a86-4477-ab3c-4d1d4a55879e