MIRA collects MVR 2.92 billion in June as GST and income tax drive growth

Maldives Inland Revenue Authority (MIRA) collected MVR 2.92 billion in revenue in June.

MIRA had earlier recorded MVR 11.70 billion in revenue during the first quarter of this year (January-March), marking a 22.4 percent increase compared to the same period last year. The figure was also 4.8 percent higher than MIRA’s projection for the quarter.

The growth was mainly driven by the tourism sector, which saw an 11.6 percent increase in tourist arrivals. Taxes accounted for 80 percent of total first‑quarter revenue, MVR 9.37 billion, while MVR 2.34 billion was recognized as non‑tax income. Foreign currency collections made up the bulk of total revenue, with USD accounting for 71 percent, or USD 540.29 million.

Goods and Services Tax (GST) remained the largest contributor, with MVR 5.66 billion, representing 48.3 percent of total revenue. Income Tax followed at MVR 2.34 billion, while Green Tax collections stood at MVR 734.53 million.

Among individual months, March recorded the highest revenue, with MVR 4.03 billion collected. Of this, MVR 2.4 billion (59.6 percent) came from GST, and MVR 440 million (10.9 percent) from resort land rent. Airport Development Fees reached MVR 271 million, while Departure Tax stood at MVR 248 million.

In February, MIRA collected MVR 2.80 billion, which was 11.6 percent lower than the January forecast. The decline was attributed to delays in paying resort rents and airport fees, as well as tax deadlines coinciding with public holidays.

Monthly revenue collection for June 2026 has been published.
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— Maldives Inland Revenue Authority (@MIRAmaldives) July 9, 2026

Revenue for April amounted to MVR 2.63 billion, 16.6 percent higher than forecast. MIRA said it continues efforts to recover outstanding dues. In the first quarter alone, MVR 2.09 billion was recovered, while 32.6 percent of April’s revenue came from payments relating to previous periods.

However, outstanding dues remain high. As of March this year, total unpaid revenue stood at MVR 14.47 billion, including MVR 5.97 billion in resort land rent alone.

MIRA said bank account freezing and legal action against tax evaders are being strengthened under its Compliance Improvement Plan.