The Maldives Inland Revenue Authority (MIRA) has collected MVR 14.7 billion in revenue in the first six months of this year.
According to the figures released by MIRA, this figure marks a significant increase of MVR 2.2 billion compared to the MVR 12.5 billion collected during the same period last year. This accounts for an overall 17 percent percent compared to the previous year.
The revenue collected in the first half of this year includes $560.6 million in dollars, up from $488.2 million in the same period last year.
Total revenue received by MIRA by month:
January: MVR 3.6 billion
February: MVR 2.3 billion
March: MVR 2.9 billion
April: MVR 2.1 billion
May: MVR 1.6 billion
June: MVR 2.05 billion
The largest revenue source was the Goods and Services Tax (GST), amounting to MVR 7.8 billion. This is 53.4 percent of the total revenue. Tourism Goods and Service Tax (TGST) accounted for MVR 5.4 billion of the GST revenue.
A significant percentage of the revenue also came in the form of income tax. Income tax collection stood at MVR 3.4 billion, or 23.6 percent of total revenue.
