Maldives records revenue of MVR2.2 billion in Jan

A group of tourists pictured outside the Republic Square in Male. PHOTO: HUSSAIN WAHEED/MIHAARU

A group of tourists pictured outside the Republic Square in Male. PHOTO: HUSSAIN WAHEED/MIHAARU

Maldives Inland Revenue Authority (MIRA) recorded a state revenue of MVR 2.2 billion for the month of January.

According to the authority’s official statistics, January’s revenue included a dollar income of USD 73.7 million.

MIRA stated that last month’s revenue was an increase of 10.7 percent from the same period last year. The authority attributed this spike to increases in revenues from Goods and Services Tax (GST), Green Tax, land leases and resort leases.

MIRA also noted that tourist arrivals had increased by 19.7 percent in January, with a spike in income generated under the enforcement policy.

Statistics show that the highest revenue last month was from Business Profit Tax (BPT) with MVR 872 million. However, this amount is a 39.8 percent drop from January 2017.

BPT was followed by GST with MVR 825 million, which is 37.6 percent higher than the previous year’s. Meanwhile, the revenue from Tourism Goods and Service Tax (TGST) was MVR 519 million, which is a spike of 23.7 percent.

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