State collects MVR 910 million from MIRA in November

Maldives Inland Revenue Authority (MIRA) headquarters in the capital Male. PHOTO / MIHAARU

Maldives Inland Revenue Authority (MIRA) headquarters in the capital Male. PHOTO / MIHAARU

The state collected MVR 910 million from the Maldives Inland Revenue Authority (MIRA) in November, statistics publicised by the institute on Monday revealed.

While the state’s tax regulatory body acquired a total of MVR 910 million in November, it had collected USD 34.4 million last month, which is equivalent to MVR 561 million.

The total revenue collected in November is a 7.5 per cent increase from the estimated revenue for the month. MIRA had credited the increase in Goods and Services Tax (GST) for the increase in its total revenue.

GST made for 64 per cent of its total revenue for November.

Even though last month’s total revenue is an increase from the estimated value, it is a 10 per cent decrease from the corresponding period of last year. MIRA had cited a decrease in land acquisition costs and land rent and lease period extension fees this year as a reason for the decrease.

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