Maldives Inland Revenue Authority (MIRA) has recorded an increase of 64.2% in revenue in March this year, compared to the same period of last year. It is an increase of 32.0% compared to the revenue projected for MIRA last month.
MIRA revealed it collected USD141 million in revenue in March. As per statistics, Goods and Services Tax (GST) accounts for the largest share of the total revenue collected by MIRA in March. This amounts to USD71 million. Meanwhile, statistics showed that USD35 million was generated from Tourism Land Rent.
Moreover, MIRA collected USD11.8 million as Income Tax, USD6.8 million as Green Tax, USD4.2 million as Airport Development Fee, and USD11.6 million as other taxes and fees.
MIRA attributed the revenue increase in March to the increase in revenue from GST, Tourism Land Rent, Income Tax, Green Tax, and Airport Tax and Fees.