Maldives Inland Revenue Authority (MIRA) has said it collected MVR14.5 billion as revenue in 2016, an increase of MVR1.45 billion compared to 2015. The total revenue collected by the agency in 2015 stood at MVR13.05 billion.
Statistics released by MIRA showed that most of the revenue was collected through goods and services tax (GST). MVR6.2 billion was collected as GST in 2016, up from MVR6.05 billion last year, according to the agency. Tourism Goods and Service Tax (TGST) generated MVR3.9 billion (US$ 250 million) last year.
Business Profit Tax (BPT) and Tourism Lease Rent accounted for the second and third highest earning components for 2016. MVR2.7 billion was collected as BPT while MVR1.4 billion was collected as Tourism Lease Rent.