MIRA collects over MVR 15 bln in 2021

The state tax authority, MIRA, collected over MVR 15.7 billion in 2021, official statistics have shown.

According to MIRA, the revenue collected in 2021 is MVR 5.2 billion more than the amount collected in 2020. MIRA received MVR 10.5 billion in 2020.

Last year, MIRA collected MVR 6.1 billion in United States Dollars and MVR 624.98 billion in local currency. The highest revenue was collected as Goods and Services Tax, accounting for 49.7 percent of revenue.

The second-highest revenue was collected as Income Tax, which was 17.1 percent of total revenue. Tourism Land Rent revenue came third in line, possessing 13.1 percent of total revenue.

Last December, MIRA received MVR 2.02 billion, which is MVR 986.8 million more than the MVR 1.03 billion collected the previous year. The revenue collected in December is 45 percent higher than the previously anticipated value.

MIRA said the main reason for the increase in revenue is higher revenue generated via TGST, GST, Income Tax, Green Tax, Airport Tax, and fines. While the number of tourists that visited the Maldives quadrupled in 2021 compared to 2020, the increase significantly contributed to the rise in revenue. Collection of pending lease period extension fees and tourism land rent also contributed to the rise, said MIRA.