The Maldives Inland Revenue Authority (MIRA) has announced that it collected USD 133 million in revenue in June this year.
The latest statistics released by MIRA show that the amount represents a 26.8% increase compared to the same period last year, but it is 28.8% lower than the forecast for June this year. The increase in revenue was primarily driven by higher collections from Corporate and Non-Individual Income Tax, Goods and Services Tax (GST), and Tourism Land Rent.
The statistics show that the deadline for Income Tax Filing and Payment was extended in June 2023 due to the Eid holidays, unlike in June 2024. The lower-than-projected revenue for June this year was mainly due to decreases in collections from Corporate Income Tax, Bank Profit Tax (BPT), and Tourism Land Rent.
The statistics also show that GST accounted for the largest share of MIRA's revenue at USD 49 million, followed by Income Tax at USD 41 million. In addition, Tourism Land Rent contributed USD 22 million, Departure Tax USD 5 million, Airport Development Fees USD 5 million, and other taxes and fees USD 11 million.