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Revenue up by 6.8% from expectation

Revenue collected to Maldives Inland Revenue Authority (MIRA) increased by 6.8% from initially expected figures.

The government tax authority confirms that the state had collected MVR 15.1 billion during the year of 2017 while back in 2016 the revenue collected stayed at MVR 14.5 billion, marking a 4.5% increase.

This has been registered as a 6.8% growth in revenue than the authority had expected during early 2017.

MIRA had confirmed that the authority collected MVR 1.4 billion during the month of December in 2017 while in December 2016, the amount had been at 1.2 billion.

The authority collected MVR 84 million as Business Profit Tax (BPT) during the last month of 2017, which is a decline from 2016's MVR 116 million. However Green Tax collected had hiked to MVR 60 million compared to MVR 56 million of 2016.

Similarly Goods and Service Tax (GST) collected during December 2017 had registered a MVR 593 million, while tax collected in 2016 stayed at MVR 524 million. Although state collected MVR 295 million as tourism land rents on 2016, the figure receded to MVR 283 million in 2017.