Maldives Inland Revenue Authority MIRA says an income decrement of 26.9 percent was recorded for March 2020 compared to March 2019.
In its monthly revenue report for March 2020, MIRA said total revenue collection for the month including USD collection stands at MRF 1.11 billion. It stated that USD revenue collection for March 2020 stood at USD 49.2 million.
MIRA highlighted that March’s revenue decreased by 20.3 percent compared to the projection for March 2020.
In February, MIRA recorded a revenue collection of MRF 1.43 billion with USD 57.2 million collected in that month.
MIRA said the decrease in income could be attributed to the deadline extension of Tax deadlines and Tourism Land Rent for the second quarter for 2020.
MIRA also cited that tourist arrivals for February 2020 declined by 11.1 percent compared to last month.
The tourism sector has declined drastically as the after effects of Covid-19 crisis takes its toll on the country’s economy.
With most tourist operations out of service because of the crisis, Government had stopped issuing on-arrival visas to tourists last March as part of the government’s on-going efforts to combat against Covid-19 global pandemic.
