Maldives Inland Revenue Authority (MIRA) on Tuesday said the country’s tax system has seen significant improvement over the past 6 years.
MIRA was established in August 2010, to administer the modern tax system which was introduced in the country in 2011. During the initial years, MIRA’s main focus was on the successful implementation of the newly introduced tax regulations, namely the Tourism Goods and Services Tax (TGST), Business Profit Tax (BPT), and the Goods and Services Tax (GST) which is a major expansion of the Tourism Goods and Services Tax. During this period, however, MIRA has also managed to establish itself as credible and efficient organisation with a strong organisational setup.
A special function to mark the 6th anniversary of MIRA was held Tuesday tonight.
Ahmed Shareef, Director General of Payment Process at MIRA, told PSM News that the institution had gained the trust of the people in a short period of time.
He added that MIRA revenue collection had grown from VMR4.6 billion in 2011 to MVR13 billion in 2015.
The first strategic plan of MIRA outlines the strategic priorities of MIRA between 2015 and 2019, under 6 programmes. It also communicates the key performance indicators for each of the strategic priorities. The achievement of strategic priorities depends on the achievement of these key performance indicators.