The Maldives Inland Revenue Authority (MIRA) collected MVR 1.72 billion in February.
According to the February figures released by MIRA, the revenue collected in February was 18.6 percent higher than the same period last year. However, it was 20.8 percent lower than the February forecast for this year.
The increase in revenue in February this year was mainly due to higher revenue from GST, corporate income tax, non-resident withholding tax, and airport tax. MIRA attributed the higher revenue to a 30.9 percent increase in tourist arrivals in January this year compared to January 2022, and the increase in GST rates as the main reasons for the increase in revenue in February.
MIRA said the revenue collected was lower than the estimated figure due to not receiving GST revenue as expected.
GST accounted for the largest share of revenue collected by MIRA last month, with MVR 1.18 billion collected as GST. This accounts for 68.9 percent of the total revenue collected. Income tax collection stood at MVR 182.04 million, or 10.6 percent of the February revenue. Green tax collected was MVR 91.87 million, airport development fee MVR 81.87 million, and departure tax MVR 78.84 million.
