MIRA receives MVR 1.25 bln as October revenue

The Maldives Inland Revenue Authority (MIRA) collected MVR 1.25 billion as revenue in October, statistics have shown.

The revenue collected in October includes USD 46.5 million collected in US dollars. The total figure is 24.6 percent higher than the October revenue last year and 28.5 percent higher than the October estimate for this year. The reasons for the increase in revenue included higher revenue from GST, income tax, tourism land rent, airport development fee, and airport service charges.

The largest revenue was generated last month as GST, which accounted for 57.4 percent -- MVR 716.4 million -- of the total revenue. The second largest revenue came from income tax. 10.3 percent --MVR 127.9 million- was collected in income tax.

Meanwhile, resort land rental revenue stood at MVR 100 million, or 8.1 percent of October's revenue. Airport development fees stood at MVR 67.9 million in October.