Revenues grow, but not enough for budget deficit to shrink
07 Jun 2012, 12:53 PM
Daniel Bosley
The Maldives’ Inland Revenue Authority (MIRA) has released its figures for May, showing an increase of 9.5 percent in government revenue compared with the corresponding month in 2011.
The total revenue collected in the month of May is reported to have been Rf389.6 million (US$25.3million).
The report states that 35.6 percent of income came from the T-GST, a levy charged on all goods and services sold in the tourism sector, which itself has risen more than 119 percent compared with the corresponding period in 2011.
The yearly revenue collected by MIRA is now reported to be 74.2 percent more than at the same point in 2011.
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