The Maldives Inland Revenue Authority (MIRA) collected MVR 2.05 billion in revenue during May 2026, with Goods and Services Tax (GST) continuing to serve as the principal contributor to total state revenue. According to figures released by the authority, GST accounted for 56.3 percent of total collections, amounting to MVR 1.1 billion, underlining the continued importance of domestic and tourism-linked economic activity to the Maldivian economy.
While total collections for the month were 0.3 percent below MIRA’s revenue estimate and 5.8 percent lower than the amount recorded in May 2025, the figures still reflect the broad-based strength of the country’s revenue framework. MIRA attributed the variance against projections mainly to lower-than-expected receipts from non-tourism GST, Green Tax, resort rent and quota fees. The authority also noted that tourism-related revenue was affected by a decline in visitor arrivals during the month, partly linked to the ongoing conflict in the Middle East.
The latest figures also highlight the central role of the tourism and resort sector in the Maldives’ fiscal landscape. Revenue streams associated with resorts and visitor activity remain deeply interconnected with national income generation, particularly through tourism GST, Green Tax and other travel-related levies. Although May registered a softer performance compared with the same month last year, the contribution of the resort industry remains substantial, reflecting its enduring status as a foundation of the Maldivian economy and a sector of continued international relevance. Resort operations, guest activity and associated service chains continue to support significant public revenue while reinforcing the Maldives’ standing as a globally recognized high-value tourism destination.
MIRA stated that 13.8 percent of revenue collected in May came from payments made after previous deadlines, while a further 21.9 percent was generated through targeted recovery efforts on outstanding dues. This reflects a strong level of administrative follow-up and compliance enforcement by the authority, supporting overall revenue performance during a month shaped by external pressures on global travel demand. The figures indicate that revenue administration measures continue to play an important role in strengthening collections and maintaining fiscal discipline.
In total, MIRA recovered MVR 382 million in outstanding dues during May through various enforcement and collection measures. Of this amount, MVR 242 million was recovered through notices issued to taxpayers, MVR 68 million through dues clearance, and MVR 59 million through instalment agreements. Reminder phone calls generated MVR 9 million, while enforcement action policies contributed a further MVR 3 million. The recovery performance demonstrates MIRA’s continued capacity to improve collections through structured engagement with taxpayers and systematic follow-up on pending liabilities.
Beyond GST, several other major revenue categories made notable contributions during the month. Income Tax generated MVR 234 million, representing 11.4 percent of total revenue. Airport Development Fee collections reached MVR 158 million, while Departure Tax contributed MVR 156 million. Green Tax generated MVR 139 million, accounting for 6.8 percent of total revenue, and Work Permit Fees added MVR 71 million. MIRA also noted that the total revenue collected during May included USD 89 million, reflecting the continued significance of foreign currency inflows within the country’s revenue structure.
Compared with May 2025, the decline in total revenue was largely driven by lower collections from tourism GST, Green Tax and the Airport Development Fee. MIRA stated that revenue from tourism-related sectors fell by 19.5 percent during the month, corresponding with the drop in tourist arrivals. Revenue collected through Corporate Social Responsibility (CSR) fees also decreased compared with the same period last year. Even so, the overall revenue outcome points to the resilience of Maldives’ institutional revenue systems and the continued contribution of its core economic sectors, especially tourism and resort-based activity, to national development and public finance.
The May revenue figures present a picture of an economy navigating global uncertainties while continuing to generate substantial public income through diversified tax and fee streams. For international observers, the data reinforces both the Maldives’ reliance on its world-renowned tourism industry and the importance of efficient revenue administration in sustaining fiscal stability. With GST remaining dominant and the resort sector continuing to hold a central place in national revenue generation, the Maldives continues to demonstrate the close alignment between its tourism economy and broader public finance performance.
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