The Maldives Inland Revenue Authority (MIRA) has collected MVR 12.5 billion in revenue in the first six months of this year.
This is 10 percent higher than the MVR 11.3 billion received during the same period last year.
According to MIRA data, dollar revenue also increased compared to the first six months of last year. Dollar revenue stood at $487.9 million in the first six months of this year, compared with $462.4 million in the same period last year.
Monthly revenue breakdown for the first half of the year
January - MVR 3.4 billion
February - MVR 1.72 billion
March - MVR 2.19 billion
April - MVR 1.86 billion
May - MVR 1.71 billion
June - MVR 1.61 billion
The largest source of revenue for MIRA during this six-month period was the Goods and Services Tax (GST). GST collection accounted for MVR 6.87 billion, contributing to 55 percent of the total revenue collected by MIRA. This includes MVR 4.8 billion from tourism GST and MVR 2 billion from general GST.
The second-largest revenue source during this period was income tax, contributing MVR 2.6 billion or 20 percent of the total revenue.
The increase in revenue in the past six months was primarily due to the increase in tourist arrivals and the change in the GST rate.
