Maldives Inland Revenue Authority (MIRA) has revealed it has collected USD 40 million in revenue in July.
The statistics from MIRA show this is a 6.2% decrease compare to the same month in 2020. However, MIRA stated the amount of revenue collected in July this year is a 13.6% increase compared to the estimated amount.
MIRA collected around 46% of the revenue, or 19 million US dollars, from Goods and Services Tax, while 17% of the revenue, or USD 7.2 million was collected from Tourism Land Rent. The statistics show income tax contributed to USD 7.1 million in revenue and Green Tax contributed to USD 1.8 million in revenue.
Additionally, MIRA received 1.4 million in USD, of which around 50% were collected from Tourism Goods and Services Tax and 35% were collected from Tourism Land Rent.
MIRA stated the slight drop in revenue in July compared to last year is due to the authority postponing the deadline for submitting taxes to August due to the Eid holidays and the overall decrease in revenue collected from taxes.