The Maldives Inland Revenue Authority (MIRA) collected MVR 2.92 billion in revenue in June.
Earlier this year, MIRA reported collecting MVR 11.70 billion during the first quarter of 2026, an increase of 22.4 per cent compared with the same period last year. The figure also exceeded the authority’s forecast for the quarter by 4.8 per cent.
MIRA attributed the increase mainly to growth in the tourism sector, with tourist arrivals rising by 11.6 per cent during the period.
Taxes accounted for MVR 9.37 billion, or 80 per cent of first-quarter revenue, while MVR 2.34 billion was collected as non-tax income. Foreign currency accounted for 71 per cent of total collections, amounting to USD 540.29 million.
Goods and Services Tax (GST) remained the largest source of revenue, generating MVR 5.66 billion, followed by Income Tax at MVR 2.34 billion and Green Tax at MVR 734.53 million.
March recorded the highest monthly revenue in the first quarter, with MVR 4.03 billion collected. GST contributed MVR 2.4 billion, while resort land rent generated MVR 440 million. Airport Development Fees totalled MVR 271 million and Departure Tax contributed MVR 248 million.
MIRA collected MVR 2.80 billion in February, which was 11.6 per cent below forecast due to delays in the payment of resort rents and airport-related fees, as well as tax deadlines falling during public holidays.
Revenue in April reached MVR 2.63 billion, exceeding projections by 16.6 per cent. MIRA said it continued efforts to recover outstanding dues, collecting MVR 2.09 billion during the first quarter. Payments relating to previous periods accounted for 32.6 per cent of April’s revenue.
Despite these recoveries, outstanding revenue remained at MVR 14.47 billion as of March, including MVR 5.97 billion in unpaid resort land rent.
MIRA said it is strengthening enforcement measures under its Compliance Improvement Plan, including freezing bank accounts and taking legal action against tax defaulters.
