The Maldives Inland Revenue Authority (MIRA) has recorded a 15.8% decrease in state revenue in September compared to the same period in 2022.
The statistics published by MIRA show that the state received USD77 million by the end of September, which is a 15.8% decrease compared to the same period last year. It was also a 19.4% decrease compared to the projection revenue for September.
The statistics show that a large amount of the state revenue collected in September was from Goods and Services Tax (GST). As such, USD34 million was collected in GST, USD15 million was collected in Tourism Land Rent, and USD9 million was collected in Income Tax. In addition, USD5 million was collected in Airport Development Fees and USD10 million was collected in other fees and taxes.
MIRA stated that revenue decreased in September compared to the same period last year due to the decrease in the collection of Tourism Land Rent, Tourism Goods and Services Tax (TGST), Non-resident Withholding Tax and Corporate Income Tax. The reason for the decrease was due to extending the payment deadlines of GST and Green Tax to the first week of October, as the government declared the initial deadline as a public holiday.