Maldives Inland Revenue Authority (MIRA) has reported the total revenue collection to state for the month of July 2020.
According to the country's taxation and revenue collection authority, the total state revenue for the review month stood at MVR656.10 million. The revenue is inclusive of collections made in US Dollars, which stood at 4.75 million.
Meanwhile the revenue collection for July 2020 observes a steep decline of -69.6 percent in comparison with the corresponding month of 2019.
MIRA further reports the authority's re-opening in July post Covid-19 lockdown coinciding with major deadlines for tax and non-tax payments set for the months of both July and August.
However due revenue to state saw decrement owing to the fall in receipts made from Green Tax, Tourism Land Rent and Tourism Goods and Services Tax (TGST).
According to the authority, the revenue for July includes MVR582.7 million in tax revenues and the remaining MVR73.4 million in non-tax revenues.
Moreover the revenue contribution shows collection from Goods and Services Tax (GST) taking up 43.3 percent of the total revenue shares and Income Tax taking up 41.2 percent of the total.
