Day: October 13, 2014

MIRA collects MVR835.7 million in September

The Maldives Inland Revenue Authority (MIRA) collected MVR835.7 million (US$54 million) in taxes during September, 4.3 percent higher than the forecast income for the month.

MIRA explained in a press statement yesterday that the tax revenue was 24.4 percent higher than the same period in 2013.

While proceeds from tourism land rent accounted for MVR315.7 million (US$20 million), MIRA revealed that MVR302.7 million (US$19.6 million) was collected as GST (Goods and Services Tax).

As of the end of September, MIRA has collected a total of MVR9.01 billion (US$584 million), which represents a 26.3 percent increase from last year. A total of MVR8.9 billion (US$577 million) was collected by the end of 2013.

Despite record levels of government income, however, the Ministry of Finance and Treasury reduced recurrent expenditure by 20 percent this month in an effort to curb a growing budget deficit.

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Civil Court orders DRP to pay over MVR1.1 million to MTCC

The Civil Court has on Sunday ordered the Dhivehi Rayyithunge Party (DRP) to pay MVR1,111,438.96 (USD72,406.45) to Maldives Transport and Contract Company Plc (MTCC).

The party was taken to court by the MTCC after its failure to pay this amount for services rendered to the party during the 2008 presidential elections, in which the party’s then-leader Maumoon Abdul Gayoom lost to the Maldivian Democratic Party’s Mohamed Nasheed.

The Civil Court verdict in the case orders the party to split the payment and complete payments within a period of six months.

Earlier in April, the Civil Court ordered the party to pay back a debt of over MVR700,000 (USD45,602.61) to HUB Company. The DRP was later fined by the court for ts  failure to complete payment as per court orders.

Island Aviation Services are also currently suing the party seeking repayment of debts. After backing unsuccessful candidates during the 2013 presidential election, the DRP failed to win any seats in the 2014 Majlis elections.

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