May-end report shows MIRA's income from bank taxes is MVR 218 million less than same period last year

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K. Male'

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18 Jun 2018 | Mon 14:49

Signboard at the entrance to the Maldives Inland Revenue Authority headquarters in capital city Malé

Mohamed Sharuhaan

MIRA

State generates MVR 99 million from bank taxes this year by May-end

This amount is a signifant decline from what MIRA collected as bank taxes in the same period last year

MIRA had generated 317 million at the end of May last year, from bank taxes

MIRA has thus far collected MVR 7.1 billion in taxes this year

Shan Anees

5,099

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.