The Maldives government earned a total revenue of MVR1.43 billion in February 2020, according to Maldives Inland Revenue Authority (MIRA).
State earned a total of 57.2 million out of the total revenue in US Dollars according to the latest statistics.
The revenue earned to state in the review month is a 12.3% increment from that of the corresponding month in 2019.
The noticeable increase in revenue comes from higher collection of Second Interim Payment of BPT (Business Profit Tax) which was extended to February's end by MIRA.
On the other hand, airport development fee and airport service charge were higher in the review month, mostly because of the increase in departure for January 2020 compared to the same month last year.
Additionally, the revenue earned for the review month was also 2.2% higher than the forecasts for the month. While January's performance had not been modest, earnings of February have moderately offset this.
The increment compared to the forecasts came mainly due to the increase in airport service charge and airport development revenue as well as a higher collection of BPT along with bump in lease period extension fee for the month.
Goods and Services Tax (GST) remained the strongest revenue contributor, taking up a share of 43.7% of the total revenue while Business Profit Tax (BPT) covered 28.9% of the total.
Both Green Tax and lease period extension fee covered 5.4% each.
The earnings for February 2020 further detailed the state earned MVR1.2 billion in tax revenues and the remaining MVR0.2 billion came through non-tax streams.
