Maldives Inland Revenue Authority (MIRA) collected MVR1.15 billion in state revenue for November 2019.
The revenue and taxation authority reports the collection in November 2019 was up by 17.7% from the corresponding month in the previous year.
The collection was also up by 33.5% from the forecasts made initially for the review month.
Revenues collected to state included a total of 51.6 billion collected in US Dollars.
Goods and Services Tax (GST) remains the strongest revenue churner to state with a revenue share of 56.6% out of the total.
The Lease Period Extension Fee covered 13.3% of the revenue collection for the review month.
Green Tax, which showed significant growth in the review month held 6.4% out of the revenue share while Airport Development Fee and Airport Development Charge each covered 5.2% of the revenue share.
Total tax revenues collected to state during November 2019 was recorded at MVR848,997,713 marking an improvement from the MVR834,031,637 in the same month last year.
GST collection for the review month was recorded at MVR651,681,170 compared to MVR639,320,370 in November 2018.
Green Tax collection was recorded at MVR73,151,612 while Business Profit Tax (BPT) observed a drop for the review month.
BPT collection recorded MVR55,325,88 in November 2019 compared to MVR57,669,788 in the corresponding month of 2018.
The total non-tax revenue collection reached MVR301,731,418 marking staggering growth from the corresponding month in 2018 where it was only at MVR143,449,891.
The significant rise in non-tax revenue for review month is credited to the collection of lease period extension fee observed at MVR153,600,000 which was nil in the same month the previous year.
The total state revenue for November 2019 was registered at MVR1,150,729,132 while in the corresponding month in 2018 it was at MVR977,481,528.
