USD revenue in September down 15% from last year, but up 5% overall

US dollar revenue collected by Maldives Inland Revenue Authority (MIRA) declined by 15.6 percent in September compared to the same period last year, according to the monthly revenue collection report released by the institution.

The monthly revenue collection report released by MIRA shows the authority collected MVR 2.69 billion in September, including USD 126.81 million in US dollar revenue.

The figure marks a 15.60 percent decline from the same month last year, when MIRA collected USD 150.25 million.

The biggest declines in USD revenue was from the airport departure tax and airport development fee.

However, the dollar revenue collection in September is 29.29 percent higher compared to the USD 98.08 million in August.

Meanwhile, the cumulative USD revenue collected so far this year is also higher than last year.

According to MIRA, they collected MVR 1.20 billion in USD revenue between January and September. This marks a 5.60 percent or USD 63.70 million increase compared to the USD 1.14 billion during the same period last year.