Maldives Inland Revenue Authority (MIRA) has collected a revenue of USD 92 million last month, indicating an increase of 12.3% compared to February 2019.
MIRA stated the revenue collected last month was 2.2% higher than the expected revenue. In this regard, MIRA stated the reason behind the increase was the rise in Business Profit Tax (BPT) revenue last month.
Good and Service Tax (GST) contributed 43.7% to MIRA’s revenue which is worth USD 40 million while USD 26 million was contributed from BPT. Meanwhile, MIRA also collected USD 4.9 million from Green Tax, USD 4.7 million from airport development fees and USD 10.7 million from various other taxes and fees.
While the USD 92 million collected by MIRA as revenue in February 2020 was an increase compared to the same month last year, it was a 20% decrease compared to USD 117 million collected as revenue in January 2020.