MIRA collected MVR 1.11 billion in March 2020

MIRA collected MVR 1.11 billion in March 2020. This amount is 26.9% less than the amount received for the same month last year and 20.3% less than the forecast for March 2020.

The reason for the decrease in revenue collected compared to March 2019 is due to tax deadlines being extended due to the lock-down imposed by the government as a precautionary measure against Covid-19 and also due to the 11.1% decrease in tourist arrivals in February 2020.

The greatest share of the revenue collected for March 2020 was from GST with MVR 637.67 million or 57.3% of total revenue. The second largest contributor was Tourism Land Rent (MVR 131.64 million or 11.8%). Other significant contributors include BPT (MVR 81.38 million or 7.3%), Green Tax (MVR 74.04 million or 6.7%), Airport Development Fee (MVR 59.17 million or 5.3%) and other taxes and fees (MVR 128.68 million or 11.6%).

Out of the revenue collected in March 2020, USD 49.2 million constitutes the dollar collection.

 

 

 

13 Apr 20