Maldives Inland Revenue Authority (MIRA) has collected over USD 97.771 million in March 2019. The amount is 2.1% less compared to the amount received during the same month last year. In addition, the amount is 15.1% less than the amount expected for March 2019.
Compared to the corresponding period of 2018, the main reason for the decrease in revenue is due to the decline in revenue generated from Goods and Services Tax (GST) and Tourism Land Rent, due to non-payment from taxpayers, despite the tourist arrivals increased by 16% compared to last year.
The greatest share of the revenue collected for March 2019 was from GST with USD 47.4 million, 48.4% of the total revenue. The second largest contributor was Tourism Land Rent which is USD 23 million, 23.5% of the total revenue.
Other significant contributors include Business Profit Tax (BPT) with USD 5.635 million and Green Tax with USD 5.385 million. Out of the revenue collected in March 2019, USD 72.1 million constitutes as dollar currency collection.