Maldives Inland Revenue Authority (MIRA) has recorded a revenue of more than USD1.43 billion in 2022 which is an increase of USD454 million compared to 2021.
MIRA revealed that the tax revenue received for 2022 was USD1 billion compared to the USD714 million received in 2021. The authority received USD170 million in December last year which is a 27.4% increase compared to December 2021 and 77% more than the estimated amount. The Goods and Services Tax (GST) accounted for the largest share of the revenue received which was 34.2% and the second highest amount from resort extension fees which was 34.1%.
Furthermore, the revenue in December 2022 compared to December 2021 is significantly higher, largely due to the increment in the collection of Tourism Goods and Services Tax (TGST), Airport Development Fee, Departure Tax, and Green Tax.