Statistics from the Maldives Inland Revenue Authority (MIRA) show that the agency collected 2.12 billion rufiyaa in revenue for the month of August. According to the figures released by MIRA, the revenue collected in August this year increased by 6.9% compared to the same period last year. This amount is also 3.1% higher than the projected revenue for August. MIRA states that the increase in revenue compared to August last year is due to higher collections from Tourism Goods and Services Tax (TGST) and Green Tax. The statistics also show that revenue from Airport Development Fee and Departure Tax increased in August this year compared to August last year.
The increase in revenue from the tourism sector is attributed to an 11.5% rise in tourist arrivals in August this year compared to August last year. Additionally, the increase in Green Tax from January this year and the increase in Airport Development Fee from December last year are factors contributing to the higher revenue this year.
According to MIRA, the revenue exceeded projections for August due to increased tourist arrivals, resulting in higher TGST and Green Tax collections. The authority also mentioned an increase in revenue from Corporate Social Responsibility fees last month. Furthermore, MIRA stated that 22.9% of the revenue collected last month was from taxpayers paying for previous periods, and 9% was from efforts to recover outstanding payments.
The largest portion of MIRA’s revenue for August 2023 came from GST. Accordingly, 1.16 billion rufiyaa was collected as GST last month. Additionally, 240.6 million rufiyaa was collected from Income Tax, 191.2 million rufiyaa from Green Tax, 165 million rufiyaa from Airport Development Fee, 162.5 million rufiyaa from Departure Tax, and 63.6 million rufiyaa from Work Permit Fees.
MIRA stated that the revenue collected in August included 89.04 million US dollars.
