Maldives Inland Revenue Authority (MIRA) reports a plummet of 18% in Goods and Service Tax (GST) revenue collected to the government.
The authority in its publicized statistical data indicates the total revenue collected from GST to the government by the end of August was at MVR 469 million. This is an 18% slide compared to the revenue of MVR 556 million collected during August of last year.
Statistics indicated that state had garnered a revenue of MVR 1 billion with 39.7 million collected in dollars. This is a decrease of 0.4% compared to last year's August, and a 2.5% below estimated income.
Meanwhile Business Profit Tax (BPT) subjected to corporations making a profit beyond a fixed bar conditioned by MIRA was at MVR 93 million in last month. However last year's August registered an income of MVR 170 million in BPT. Similarly Green Tax collected during August was confirmed at MVR 52 million, while last year's Green Tax collection in August was 2 million more in comparison.
Income generated from land acquisition and conversion was at MVR 161.8 million and an MVR 44.4 million was collected as airport service charge.
