Maldives Inland Revenue Authority (MIRA) has revealed that the Agency had collected MVR 1.14 billion as earnings for the last month.
This is a 19.6% increase to the amount collected in the same period last year. The figure is a 50.8% higher amount that the estimated amount for the period. US$ 32.9 million was collected as dollar earnings for the period.
Influx of GST payments for the first week of May had accounted for the spike in the figure collected as GST. MVR 312 was collected as bank profit tax, which is payable every July. The change in date to collect BPT also contributed to the rise in income.
GST had accounted for the biggest contributor to May earnings with MVR 550.8 million claimed. This accounts for 48.3%. Bank profit tax was the second highest contributor (MVR 312 million or 27.4%) s earnings. BPT (MVR 75.1 or 6.6%), green tax (MVR 56.3 million or 4.9%) and airport service charge (MVR 42.2 million or 3.7%) were noted as earnings.
The MIRA statistics show that earnings for the first five months of the year had increased by 13.1 percent compared to the same period one year back. The first five months of the year the state had earned MVR 6.35 billion. GST accounted for 45.1 percent of the earnings and BPT accounted for the second highest with 17.5 percent.
MIRA collects MVR 1.14 billion
