Maldives Inland Revenue Authority (MIRA) has collected USD 65 million in revenue in October.
The monthly revenue collection report shows the amount is a 156% increase compared to the revenue collected in October 2020. MIRA stated the revenue for October this year is higher than the same month in 2020 due to the increment in Tourism Goods and Services Tax (TGST), Green Tax, and Airport Taxes and Fees.
The authority also stated tourist arrivals in September this year are 12 times higher than September 2020, which led to an increment in tourism-related revenues, while arrivals in 2020 were restricted due to COVID-19. It added the receipt of tourism land of previous deadlines contributed to the favourable outcome.
Furthermore, the revenue collected in October this year is a 39% increase compared to the projected amount. MIRA stated the overall increment in revenue compared to the forecast for the month is mainly due to the increment in the collection of Goods and Services Tax (GST) and collection of Tourism Land Rent from prior deadlines.
The report also shows the top contributor of revenue collection in October was GST with 58.4% while the top contribution to USD revenue was TGST with 59.8%.
Additionally, MIRA recorded 38 million in USD revenue collection for October this year.