Government revenue in December falls below forecast
“A 9.7 percent shortfall in revenue collection for December 2015 compared to the projection was observed for Green Tax, tourism sector GST and airport service charge. This is due to the 14.5 percent lower-than-expected tourist arrivals in November 2015,” MIRA explained in its December revenue collection report.
13 Jan 2016, 9:00 AM
Revenue collected by the tax authority in the final months of 2015 fell below forecasts as anticipated income from tourism and foreign investments failed to materialise last year.
According to the Maldives Inland Revenue Authority, total revenue collected in December was 9.7 percent below forecast and 2.4 percent less than December 2014.
“A 9.7 percent shortfall in revenue collection for December 2015 compared to the projection was observed for green tax, tourism sector [goods and services tax] and airport service charge. This is due to the 14.5 percent lower-than-expected tourist arrivals in November 2015,” MIRA explained in its December revenue collection report.
But according to the tourism ministry, tourist arrivals in November had registered a marginal growth of 0.5 percent despite a short-lived state of emergency and continuing political instability.
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