Maldives records revenue of MVR 1.2 billion in May

Customers at service counters in MIRA office. PHOTO/MIRA

Customers at service counters in MIRA office. PHOTO/MIRA

Maldives Inland Revenue Authority (MIRA) recorded a state revenue of MVR 1.2 billion in the month of May this year.

According to MIRA’s statistics, the government revenue of MVR 1.2 billion is an annual increase of 5.9 percent, which the authority attributes to increases in Goods and Services Tax (GST), Withholding Tax, Airport Service Charge and Green Tax.

The highest revenue in May was from GST with MVR 598 million, followed by Bank Profit Tax (BPT) with MVR 371 million. Statistics show that revenue from Green Tax was MVR 63 million while Airport Service Charge raked in MVR 49 million.

MIRA added that over MVR 539 million of the revenue in May were in US Dollars, which amount to over USD 35 million.

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