The revenue collected for Maldives Inland Revenue Authority (MIRA) in August has dropped 25.4% compared to August last year.
MIRA collected USD 82.2 million as revenue in August this year which is recorded as a 3% decrease from the projected amount, according to statistics.
MIRA revealed the revenue collection this August was low, due to the decline in the collection of Income Tax. MIRA also revealed due to the impact of the COVID-19 pandemic, reported profitability for the tax declined significantly which led to the decrement in the collection of Income Tax.
The biggest contribution to the revenue was from Goods and Services Tax (GST) which accounted for 53.8% of the total revenue. Meanwhile, 24.0% and 5.9% of the revenue was contributed from Income Tax and Green Tax respectively.