Maldives Inland Revenue Authority (MIRA) has reported the income generated for the month of November this year to the state stands 10% below the amount collected in the same month last year.
According to MIRA's statistics the state had collected a total of MVR 1 billion last year during the month of November whereas this year's same period had raked in as much as MVR 910 million with a loss of MVR 101.5 million.
MIRA had justified this lack of income as pending payments from tourist island renting and leasing as well as fees from land acquisition cost.
Tourism land acquisition fees collected during last month had been at MVR 6.6 million while state collected MVR 87.9 million in November last year, marking a drastic 92% drop. Meanwhile state had not collected any fees from lease period extension during last November while fees collected for tourist land rent was just about MVR 3.10 million which is another staggering 91% drop against last year's income of MVR 46.6 million.
State had collected a total of USD 34.4 million last month - which is approximately MVR 561 million. Although last month's run had generally been lower than last year's November, this revenue collected marks a 7.5% increase from expected figures.
Furthermore income generated to the state last month comprised of 64% in GST collection while a total of MVR 62.9 million was collected as Business Profit Tax (BPT).
