The state had generated a total of MVR 99 million from bank taxes at the end of May, since January.
This amount is a signifant decline from what the Maldives Inland Revenue Authority (MIRA) collected as bank taxes within the January-May period last year.
MIRA had generated 317 million at the end of May last year, as bank taxes. While amounts generated through banks had dropped, the total amount it garnered is higher than in comparison to 2017.
MIRA has thus far collected MVR 7.1 billion in taxes this year. The tax authority had garnered more as business profit taxes, fines, stamp fees, and airport development fees had increased, compared to last year.