Maldives Inland Revenue Authority (MIRA) has revealed the revenue generated by the authority in March 2021 had increased 19.2% compared to the same period last year.
As per the statistics of MIRA, the authority recorded an income of USD 86 million in March 2021, which is 19.2% higher than the income generated in March 2020. It is also 28.4% higher than the projected income for March.
As per the statistics, USD 43.8 million was generated through Goods and Services Tax (GST), accounting for 51% of the total revenue for March. Meanwhile, USD 21.7 million was recorded through Tourism Land Rent, accounting to 25.3% of revenue.
MIRA revealed USD 4.5 million was recorded through both Green Tax and Income Tax, while USD 2 million were recorded through Airport Development Fee (ADF). Other taxes and fees contributed USD 9.3 million in revenue.
MIRA attributed the increase in revenue in March 2021 to the increase in tourism revenue. In March, the Maldives recorded 109,585 tourist arrivals, marking the first time tourist arrivals had crossed 100,000 in a single month since the beginning of the COVID-19 pandemic.