State revenue at MVR 1 billion in Feb

People pictured at MIRA's service counters. MIHAARU FILE PHOTO/NISHAN ALI

People pictured at MIRA’s service counters. MIHAARU FILE PHOTO/NISHAN ALI

Maldives Inland Revenue Authority (MIRA) announced Sunday that the state recorded a revenue of MVR 1 billion for the month of February.

According to MIRA, the revenue is 15 percent higher than the projected value for last month. However, it is lower than the amount recorded in February 2016, which was higher due to increases in acquisition costs, conversion fees and lease period extension fees.

The highest revenue in February was recorded from Goods and Services Tax (GST) with 638 million, followed by Business Profit Tax (BPT) with MVR 136 million. Green Tax and Airport Service Charge brought in MVR 64 million and MVR 45 million respectively, while land acquisition fees and conversion fees raked in MVR 24 million. Other taxes and fees also earned MVR 93 million.

The US Dollar revenue for last month was USD 41 million.

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