Maldives: Inland dollar revenue down by 30% in October

Data released by The Maldives Inland Revenue Authority (MIRA) showed that US dollar tax revenue slumped by 30 percent in October month in comparison to the last month, reported Sun News

Nov 12, 2020
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Data released by The Maldives Inland Revenue Authority (MIRA) showed that US dollar tax revenue slumped by 30 percent in October month in comparison to the last month, reported Sun News. 

MIRA is an autonomous tax authority in the Maldives and around 70 percent of US dollar revenue comes from tourism Goods and Services Tax (TGST). In October, Data shows, the authority collected $4.68 million -a downfall of 30 percent- which was earlier $6.74 million in September. 

And if the earning is compared with the same month of the last year, it shows a downfall of 75.9. 
Since the reopening of the tourism industry, the MIRA hits the highest-earning in the month of August. 

The stagnation in the tourism industry caused the downfall, opined MIRA. 

Since the reopening, the government has been focusing heavily on the revival of the tourism industry as the industry is not only a major source for the government but also sustain, directly and indirectly, the livelihood of many people there. 

The government has proposed and enacted sweeping changes to attract foreign tourists to the country after the COVID lockdown lifted in July. 

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