The state revenue collected in USD rose by 5.6 per cent to hit USD 1.2 billion in the first nine months of the year, according to statistics released by the Maldives Inland Revenue Authority (MIRA).
The total marks an increase from the USD 1.1 billion collected in foreign currency during the corresponding period last year. Overall state receipts—combining both US dollars and Maldivian Rufiyaa—climbed to MVR 27 billion, outpacing the MVR 25 billion recorded over the same nine-month span previously.
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Tax collections formed the overwhelming majority of dollar receipts, bringing in USD 923 million. This represents an 8.3 per cent rise compared to the USD 853 million recorded in the first nine months of the previous year.
The Tourism Goods and Services Tax (TGST) led foreign-currency inflows, generating USD 571 million. Corporate and personal income taxes provided the second-largest dollar contribution at USD 138 million, while Green Tax payments added a further USD 114 million to state accounts.
Conversely, non-dollar tax takings experienced a marginal contraction. MIRA gathered MVR 277 million in local-currency taxes during the period, down from the MVR 284 million collected across the identical period twelve months prior.
The latest data highlights the state’s continued reliance on tourism activity to anchor foreign-exchange liquidity, with TGST receipts continuing to serve as the primary engine for public revenue.
