Maldives Inland Revenue Authority (MIRA) has revealed that the State had earned MVR783.9 million in revenue last week, which is the highest amount collected by MIRA within a single week thus far.
According to MIRA, out of the total revenue collected MVR538 million had been received in Maldivian currency while the rest in US dollars. MIRA added that the figure is the collections made directly by the Authority and would exceed the MVR783.9 million once the collections made by Atoll Councils are included.
The highest amount collected in a single day was recorded last Thursday where MVR400 million had been received by MIRA.
Out of the total amount collected by MIRA, Business Profit Tax (BPT) had been the highest contributor. The amount in BPT includes last year’s final tax and the first interim payment for this year.
The deadline for the payment of BPT had ended on August 15, where earlier the deadline was set as last Thursday.
Under the Act on BPT, payments not received on time carries a fine of MVR250,000 or double the amount payable in taxes.