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MIRA's July revenue reached MVR 3.41 billion, with stronger tax collections helping offset lower tourism activity, delayed income-tax payments and weaker collections from several major sources.
Mariyam Adheela
Maldives Inland Revenue Authority (MIRA)
The Maldives Inland Revenue Authority (MIRA) collected MVR 3.41 billion in revenue during July, marking a slight 0.2 percent increase compared with the same month last year.
However, the July collection was 3.6 percent below the amount MIRA had expected to receive.
The annual increase was supported by higher collections from Bank Income Tax, land sales and transfer fees, General Goods and Services Tax (GGST), and resort rent.
Despite these gains, revenue remained below target as collections from corporate and other non-individual income taxes, as well as non-resident withholding tax, were lower than expected.
A 3.1 percent drop in tourist arrivals also affected revenue during the month. In addition, the deadline for income tax payments was extended to August 2 because of public holidays, reducing the amount collected in July.
MIRA also reported recovering MVR 449 million in unpaid dues. Of this, MVR 248 million was collected through official notices, while another MVR 30 million was recovered through telephone reminders.
Overall, 18.4 percent of July’s revenue came from payments that had passed their original deadlines, while 11 percent was collected through MIRA’s active efforts to recover outstanding payments.
