Tax authority collects MVR1.5bn in March
Total revenue reached MVR6.1 billion at the end of the first quarter.
14 Apr 2019, 9:00 AM
The Maldives Inland Revenue Authority collected MVR1.51 billion (US$98 million) in taxes during March, 15.1 percent below forecast and down 2.1 percent from the same period last year.
The tax authority blamed non-payment of Goods and Services Tax for the decrease in revenue, despite a 16 percent increase in tourist arrivals.
The revenue was below forecast “because of the decrease in the collection of GST and Tourism Land rent due to non-payment of some taxpayers,” MIRA said.
GST accounted for 48.4 percent of total revenue followed by Tourism Land Rent (MVR355.86 million or 23. percent), Business Profit Tax (MVR87.04 million or 5.8 percent), Green Tax (MVR83.17 million or 5.5 percent) and Airport Development Fee (MVR67.33 million or 4.5 percent).
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