Maldives Inland Revenue Authority (MIRA) has received over USD 64 million as income from tax and other charges in May this year.
The revenue received for the state was 10.6 percent higher than the expected income for the month, according to monthly revenue collection report publicised by MIRA. However, the statistics recorded that the amount decreased 14.6 percent compared to the same month last year. MIRA stated the increase in revenue was due to some banks paying profit taxes ahead of the deadline set by the authority.
The highest revenue was obtained via Goods and Service Tax (GST) which amounted to 58.2 percent, while 15.4 percent was received from other sources, according to statistics from MIRA. Moreover, while 9.4 percent of income was gained from Bank Profit Tax (BPT), 6.1 percent was received from Green Tax. 5.5 percent involves Airport Development Fees and 5.5 percent involves Airport Service Charges
The state received more than USD 322 million from MIRA in the first 3 months of the year.