Maldives Inland Revenue Authority (MIRA) has revealed over USD 77 million was received as tax and fees last month.
MIRA stated while USD 77.884 million was received last month, the amount is a decrease of 3.2% compared to the amount received in the same month of 2018. MIRA noted the amount is a 13% decrease compared to the projection, due to the non-payment of Goods and Services Tax (GST), Green Tax and Tourism Land Rent to the deadline.
Despite the increment in GST, Business profit Tax Act (BPT) and Tourism Land Rent, collection of September this year decreased slightly compared to September 2018, due to the negative variance contributed from the Land Acquisition and Conversion Fee, according to MIRA. The authority said one-off payments for newly leased islands were received in September last year.
The state tax authority said the biggest contribution to the income was made from GST, attributing to 42.6% of the total income.