MIRA records a decrement of 69.6% in revenue last July

Maldives Inland Revenue Authority (MIRA) has recorded a decrement of 69.6% in revenue last July.

The Monthly Revenue Collection report of MIRA states the tax authority collected USD 42.58 million as revenue last July which is recorded as a decrement of 69.6% compared to July 2019. MIRA collected over USD 129.8 million as revenue in July 2019.

MIRA said the decrement was due to the closure of MIRA amid the COVID-19 lockdown and the decision to delay deadlines for tax and non-tax payments. MIRA added the revenue from Tourism Goods and Services Tax (TGST), Green Tax and Tourism Land Rent steeply declined as a result of the pandemic.