MIRA Revenue Collection For February 2021 Decreases By 30.9% Compare To That Of February 2020

Local tax administrator, Maldives Inland Revenue Authority (MIRA) published their monthly revenue collection for February 2021 earlier today.

Accordingly, the Authority notes that they have collected a total of MVR 994.12 million as tax revenue for the aforementioned period represents a 30.9% decrease compare to that in February 2020. Nevertheless, this is a 41.2% increase compared to what was projected for the month. The increase is attributed to the slow recovery of the tourism industry consequent to which green tax, tourism land rent, airport service charge and airport development fees have increased.

The said total tax revenue is inclusive of USD 41.71 million.

The main source of tax revenue for MIRA in February 2021 was from Goods and Services Tax (GST) making up for 67.7% of the total revenue with MVR 672 million having been collected. Coming second is Income Tax making up for 10.8% of the total revenue with MVR 107 million having been collected. The third is Green Tax making up for 6.4% of the total revenue with MVR 63.5 million having been collected.