MIRA collected MVR 1.41 billion as revenue in September 2022. This is a decrease of 29.0% compared to the same period last year. And an increase of 11.0% compared to the forecasted amount for September 2022.
Revenue of September 2022 is lower, mainly due to the decrement in collection of Income Tax and Tourism Land Rent The deadline for the submission of First Interim Income Tax Payment for 2021 was deferred to September 2021. No such deadline extension was granted this year; thus the collection of Income Tax is low. Tourism Land Rent collection shows a significant decrease in September 2022 as the deadline of Tourism Land Rent for 4th Quarter of 2022 had been deferred to October 2022, as the deadline fell to a public holiday. Revenue collection surpassed the forecasted revenue, mainly due to the significant increment in collection of Non-Resident Withholding Tax, Corporate Income Tax, TGST and GGST.
The greatest share of the revenue collected for September 2022 was from GST with MVR 640.93 million or 45.6% of total revenue. The second largest contributor was Tourism Land Rent (MVR 297.63 million or 21.2%). Other significant contributors include Income Tax (MVR 149.30 million or 10.6%), Green Tax (MVR 77.69 million or 5.5%), Airport Development Fee (MVR 66.26 million or 4.7%) and other taxes and fees (MVR 174.84 million or 12.4%).
Out of the revenue collected in September 2022, USD 59.12 million constitutes the dollar collection.