Maldives tax authority collects MVR1 billion in August
The Maldives Customs Service meanwhile collected MV280 million as import duties.
12 Sep 2018, 9:00 AM
The Maldives Inland Revenue Authority collected MVR1 billion (US$65 million) in August, 17 percent higher than forecast but marginally below revenue collection in August last year.
“As a result of 10.1% growth in tourist arrivals compared to the corresponding period of 2017, receipt of tourism-related revenues were higher-than-expected,” MIRA explained in its monthly report released Wednesday.
“Along with this, Lease Period Extension Fee to extend the lease period to 99 years was also received in August 2018, which collectively led to a significant increment compared to projection. However, compared to August 2017, a slight decrement was recorded since a substantial payment towards a newly leased island was received in 2017.”
Goods and services and business profit taxes accounted for just over half of total revenue, followed by lease period extension fee (12 percent), green tax (7.6 percent) and airport development fee (6.2 percent).
Become a member
Get full access to our archive and personalise your experience.
Already a member?
Discussion
No comments yet. Be the first to share your thoughts!
No comments yet. Be the first to join the conversation!
Join the Conversation
Sign in to share your thoughts under an alias and take part in the discussion. Independent journalism thrives on open, respectful debate — your voice matters.
