Dollar revenues for Jan-May up 40 percent on last year, says MIRA

The Maldives Inland Revenue Authority (MIRA) has reported revenues of Rf355.8 million (US$23 million) in May, US$21.7 million of it in foreign currency.

Foreign currency received in the first five months of 2011 had climbed almost 40 percent on the previous year, from US$67.2 million to US$108.5 million MIRA stated.

US$5.6 million was received in May Tourism Goods and Services Tax (TGST), US$4.8 million in tourism taxes and US$5.4 million in airport service charges.

President Mohamed Nasheed has said that based on this year’s TSGT figures, the tourism economy is four times larger than the government’s previous estimates.