Maldives Inland Revenue Authority (MIRA) recorded a state revenue of MVR 1.2 billion for the month of April this year.
According to MIRA’s monthly statistics, April’s revenue was 1.6 percent higher than the projected estimate, and 2.8 percent higher than the revenue of the same period last year.
MIRA attributed the higher revenue to the spike in tourist arrivals last month, which had consequently increased tax incomes. The amount of recovered funds owed to the state had also gone up in April under MIRA’s enforcement policy.
The statistics showed that the highest revenue was recorded from Goods and Services Tax (GST) at 64 percent, with other incomes and fees accounting for 13 percent.
The monthly revenue for April included a US Dollar income of USD 47 million, which amounts to over MVR 724 million.
The state revenue for the first quarter had also increased, with MIRA recording MVR 4.99 billion in the first three months of this year.
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Source URL: Mihaaru-Business