Revenue of MVR 1.71 billion collected last month was 1.8 percent higher than forecast, according to the Maldives Inland Revenue Authority (MIRA).
It was 30.4 percent higher than revenue collected in the same period last year, MIRA revealed.
Revenue grew in May 2023 compared to May 2022 due to increases in the collection of the goods and services tax (GST), corporate income tax, airport development fee and departure tax.
As tourist arrivals increased 13.1 percent in April 2023 compared to April 2022, income from the tourism sector GST and airport taxes and fees was higher, MIRA said.
Details of revenue:
- MVR 1.09 billion as GST (63.59 percent)
- MVR 212.43 million as income tax (12.41 percent)
- MVR 114.34 million as airport development fee (6.68 percent)
- MVR 101.20 million as departure tax (5.91 percent)
- MVR 83.10 million as green tax (4.85 percent)
- MVR 112.17 million as other taxes and fees (6.55 percent)
MIRA collected USD 72.78 million as revenue in US dollars.
