MIRA collects MVR 2.36 billion as revenue in January 2022

MIRA collected MVR 2.36 billion as revenue in January 2022. This is an increase of 31.2% compared to the same period last year. And an increase of 38.6% compared to the forecasted amount for January 2022.

The main reason behind the increase in collection compared to January 2020 is due to the increment in collection of GST, Income Tax, Green Tax and Airport Taxes and Fees. Tourist Arrivals of December 2022 is 2 times higher than December 2020, which led to increment in Tourism related revenues. This is due to the decline in tourist arrivals noted in 2020 due to covid-19. Additionally, payment towards Lease Period Extension Fee was not received in January 2021, whereas this fee was received in January 2022, which led to the comparative Increment in revenue.

The greatest share of the revenue collected for January 2022 was from GST with MVR 1.05 billion or 44.6% of total revenue. The second largest contributor was Income Tax (MVR 864.41 million or 36.6%). Other significant contributors include Green Tax (MVR 95.19 million or 4.0%), Tourism Land Rent (MVR 84.49 million or 3.6%), Lease Period Extension Fee (MVR 76.55 million or 3.2%) and other taxes and fees (MVR 188.54 million or 8.0%).

Out of the revenue collected in January 2022, USD 73.88 million constitutes the dollar collection. 

 

10 Feb 22