State revenue slips 10.4% below expectation

Revenue generated for the state by September 2017 has slipped by 10.4% of the initially estimated amount.

According to Maldives Inland Revenue Authority (MIRA) the state had garnered an amount of MVR 989 million as income by September this year.

However last year's third quarter had shown an income of MVR 1.1 billion, thus placing this year's third quarter income 10.4% low.

MIRA's statistics show the government had garnered MVR 473 million through GST collections while MVR 67 million was collected as BPT. Apart from this Green Tax collections had been at MVR 55 million while the recently implemented remittance tax had collected MVR 9 million while airport development fee collected during this period had amounted to MVR 47 million.

The quarter had collected MVR 216 million has tourism land rents while last year's same quarter had collected MVR 346 million.

Revenue collected by September 2017 in US dollars has been at 43 million while last year's same period had collected USD 51 million.