MIRA Released Monthly Revenue Collection Details For July 2021

As per the report published by MIRA for the revenue collection of the month July 2021, it was recorded that a total of MVR624.07 million was collected including the USD Collection that summed to a total of USD 21.10 million. 
 
Compared to last year July 2020, there was a subtle decrement of 6.2% for the collections due to the extension of deadline for major taxes. Major deadlines that fell towards the end of July were seemingly extended to August because of the EID holidays. Hence, there was a decline of collection for Income Tax, GGST and Land Sales Tax compared to last year. 
 
While we note the decrement, there was an increment of 13.6% revenue compared to last year mainly due to the increment in collection of Income Tax and TGST over the estimated amounts. 
 
The most contribution for MVR in total revenue was due to GST collected whilst the most revenue contributed to USD was from TGST.