State dollar revenue falls 15% in September
Dollar revenue collected by the government fell 15 percent in September compared with the same month last year, but the total for the first nine months is still higher than a year ago.
The government’s dollar revenue in September was 15 percent lower than in September last year, according to figures from the Maldives Inland Revenue Authority (MIRA).
MIRA’s figures show USD 127 million was collected in dollars last month, USD 23.4 million less than the USD 150 million collected in the same month last year.
The biggest declines came from taxes and fees collected from departing passengers. Departure tax revenue fell by USD 1.7 million, and the Airport Development Fee (ADF) fell by USD 1.8 million. Revenue from extending the lease periods of islands leased to resorts also dropped by USD 32.6 million.
Despite the monthly fall, dollar revenue for the first nine months of the year is higher than last year. The government had collected USD 1.2 billion by the end of September, USD 63.7 million more than in the same period last year.
MIRA also said it recovered MVR 623 million in unpaid taxes and fees during the first nine months of the year. Even so, the total amount owed to the government by various parties is still more than MVR 14 billion, according to MIRA’s figures.
