The Maldives Inland Revenue Authority (MIRA) collected MVR 3.4 billion as revenue in January this year.
This figure is 43.1 percent higher than the amount collected in the same period last year and 43.6 percent higher than the forecast for January this year.
The reasons for the increase in revenue included higher revenue from GST, corporate income tax, airport tax and fees, as well as tourism land rent and green tax. The increase in tourist arrivals also contributed to the increase in January revenue.
The highest revenue collected by MIRA last month came from the Goods and Services Tax (GST), with 47.7 percent of the revenue-- MVR 1.62 billion -- coming from GST. These include the General Sector -- General GST of MVR 397.4 million and Tourism GST -- TGST of MVR 1.22 billion.
Income tax was the second-largest source of revenue in January. Income tax accounted for MVR 1.29 billion -- 38.1 percent-- of total revenue. The third largest revenue collection came from green tax. Green tax collection stood at MVR 100 million in January, while tourism land rent collection stood at MVR 94 million. Airport development fees amounted to MVR 89.6 million.
The Finance Ministry estimates revenue of MVR 4.2 billion in general GST and MVR 9 billion in TGST this year. Green tax is estimated at MV 1 billion, and resort rents at MVR 1.7 billion.
The MIRA received MVR 22 billion in revenue last year. Revenue is expected to cross MVR 32 billion this year.
