Maldives Inland Revenue Authority, MIRA said on Monday that it collected MVR3.46 billion as revenue in the 3rd quarter, a 5.8% decline compared to the corresponding quarter of 2015.
Data released by the agency showed the revenue collection fell behind its projection by 7%.
Top four revenue contributors for the quarter mutually account for 81.6% of the total revenue collection, while GST and BPT are the major revenue contributors during period, according to the data. However, compared to 3rd quarter of 2015, GST and BPT decreased by 2.2% and 5.2% respectively.
A significant growth was observed for Tourism Land Rent which exceeded the 3rd quarter of last year nonetheless, the collection was 5.7% lower than projected, the agency said, adding that Green Tax contributed 4.2% of the 3rd quarter of 2016 revenue collected and surpassed its projection by 2.1%.
Compared to previous year, revenue received in July and August diminished by 17.1% and 13.3% respectively, whereas a growth of 24.6% was observed for September, it said, and total GST collection for this period was at MVR1.32 billion with 74.7% of this revenue coming through the tourism sector while rest was from the general goods and services sector.