Maldives Inland Revenue Authority (MIRA) has collected a revenue of over USD 320 million in the first quarter of the year. MIRA said the quarterly revenue declined slightly compared to the revenue collected in the corresponding quarter of 2018 and projection for the quarter.
Compared to the same period last year, decline in revenue was observed for Business Profit Tax (BPT), Tourism Goods and Service Tax (TGST), Green Tax and Land Acquisition and Conversion Fee, according to statistics published by MIRA.
In addition, MIRA stated non-payment and non-filing of the aforementioned taxes were observed in quarter one, and no islands were leased in this quarter, resulting in this decrement. Meanwhile, the revenue from taxes decreased 3.1 percent compared to the projected amount.
However, most amount of revenue is contributed from Goods and Services Tax (GST) with 47 percent of the total revenue.