Government revenue increases in first half of 2016

The Maldives Inland Revenue Authority collected MVR6.5 billion (US$421 million) in the first five months of 2016, an increase of 13 percent compared to the same period last year.

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.

Finance minister submits record MVR27bn budget for 2016

While MVR21.5 billion was expected in revenue this year, Finance Minister Abdullla Jihad said the government will only have earned MVR17.7 billion by the end of the year. The forecast deficit was MVR1.3 billion, but the figure is likely to reach MVR3.6 billion or 6.9 percent of GDP.

Government revenue declines in May

Revenue collection declined in May due to a decrease in tourist arrivals and decline in revenue from Business Profit Tax. The government expenses rose due to spending on recurrent expenses.

Maldivian economy grew by 8.5 percent in 2014, says MMA

Tax authority collects MVR1.2bn in March

Revenue collection in February 17 percent below forecast, reveals MIRA

Finance minister presents record MVR24.3 billion state budget to parliament

Government expenditure rose 58 percent in June, reveals MMA

World Bank provides US$6.5 million grant for public financial management system

Slippages in revenue or expenditure will undermine debt sustainability: MMA macroeconomic report

Revenue collected by customs increased 17 percent in first quarter

MIRA to collect additional MVR110 million from telecoms tax

Government finances “further deteriorated in first six months of 2013”: MMA Quarterly Economic Bulletin

Government suspends new development projects due to budget constraints

GMR and government to seek “win-win situation”: Razee

Dhiraagu re-registered as public limited company

Finance Ministry appeals for cooperation with cost-cutting measures

Government’s bill reduces tourism revenue “but improves investor confidence”