The Maldives Inland Revenue Authority (MIRA) collected MVR 2.28 billion in October 2026, marking an 11.8% increase compared with the same month last year, supported by stronger Goods and Services Tax collections and improved recovery of outstanding payments.
October’s revenue was the highest recorded for the month in MIRA’s five-year comparison, while collections under categories covered by its forecast were 12.9% higher than projected, reflecting continued strength in government revenue mobilisation.
Goods and Services Tax remained one of the main contributors to the increase, accounting for nearly half of the MVR 241 million year-on-year growth. General sector GST collections rose by MVR 53 million, while tourism sector GST increased by approximately MVR 60 million. Tourism GST was also the largest source of foreign currency revenue for MIRA during the month, representing more than half of the USD 96.2 million collected in US dollars.
The strong performance also reflected efforts to recover outstanding dues, with around MVR 448 million collected through enforcement measures, including payment demands and instalment arrangements. These collections accounted for nearly one-fifth of total October revenue and contributed to higher receipts from corporate income tax and tourism land rent.
Revenue generated through the country’s aviation and tourism-related services also recorded growth. Departure Tax and Airport Development Fee collections reached a combined MVR 299.2 million, an increase of 9.2% compared with October last year. The rise was recorded despite tourist arrivals remaining broadly stable, with a marginal 0.2% decline during the period, highlighting the contribution of improved recovery of outstanding payments.
Green Tax collections stood at MVR 156.2 million during October, compared with MVR 172.4 million a year earlier. The monthly figures indicate that revenue performance across tourism-related categories can also be influenced by the timing of payments and settlements relating to previous periods.
From January to October 2026, MIRA collected a total of MVR 30.12 billion, representing a 9.2% increase compared with the corresponding period of 2025. GST revenue increased by approximately MVR 1.05 billion, while Bank Income Tax contributed an additional MVR 648 million. Together, these two revenue streams accounted for around two-thirds of the overall increase.
The latest figures reflect the Government’s continued focus on strengthening revenue administration, improving compliance and recovering outstanding dues, while maintaining the tourism sector and broader economy as important contributors to national revenue and fiscal performance.
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