Maldives Inland Revenue Authority (MIRA) has received MVR 1.61 billion in June.

According to the Tax Revenue Data released by MIRA last month, the state collected MVR 869 million and USD 48.42 million. Total revenue stood at MVR 1.61 billion, 42.9 percent higher than the month's estimate.

However, it was 31.7 percent lower than the same month last year. According to MIRA, the decline in revenue in June as compared to the same month last year was mainly due to lower income tax and lower rent for tourism land.

According to Mira, the number of income tax payments in June declined as the deadline for filing income tax returns and the final payment of 2022 was deferred to July 2023.

They further added that with the prolonged holidays in June, the collection has come down significantly as the deadline for payment of tourism land rent, GST and airport taxes and fees has been postponed to July 2, 2023.

According to MIRA data, GST and income tax accounted for the highest tax collection last month. GST collection stood at MVR 474 million, while income tax collection stood at MVR 604 million. MVR 50 million was collected from Green Tax, MVR 231 million from tourism land rent, and MVR 64.7 million from airport development fees.

In addition to this, MVR 68 million was collected from departure tax, while plastic bags tax earned over MVR 700,000.