MIRA Reports Over 98 Percent of 2024 Revenue Collected via Online Payments

The Maldives Inland Revenue Authority (MIRA) revealed in its latest annual report that 98.9 percent of the MVR 22.77 billion collected in 2024 was received through online payments.

Tax revenue for the year outperformed expectations, coming in 9.7 percent higher than projected. Compared to 2023, overall revenue increased by 10.5 percent, reflecting both policy changes and broader economic trends.

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One of the key drivers behind the rise in tax revenue was the increase in the Tourism Goods and Services Tax (TGST), which was raised to 16 percent. This policy shift coincided with an 8.76 percent rise in tourist arrivals during the same period, contributing significantly to the state’s income.

The report also notes a five percent year-on-year growth in Goods and Services Tax (GST) revenue. In addition to tax collections, MIRA reported that revenue from non-tax sources exceeded projections by 38.5 percent.

The figures highlight the growing reliance on digital platforms for tax compliance and point to the continued strength of the tourism sector in fuelling government income.