The Maldives Inland Revenue Authority (MIRA) has reported a record-breaking month in terms of revenue collection. In January, the state collected a total of MVR 3.5 billion, marking a 43% increase from the same period the previous year and surpassing estimated revenue by 44%.
MIRA’s statistics reveal that the largest contributor to the revenue was the Goods and Services Tax (GST), amounting to MVR 1.7 billion. The second largest contributor was Income Tax, totaling MVR 1.3 billion. The authority also collected MVR 102 million in Green Tax and MVR 96 million in Tourism Land Rent.
According to MIRA, the increase in revenue collection can be attributed to the rise in tax and fee collection as well as an increase in tourism-related revenues due to a rise in tourist arrivals.