Revenue collection in December 2025 reached MVR 3.24 billion, reflecting a robust year-on-year increase of 30.7 percent and outperforming initial forecasts by 17.4 percent, according to the latest figures released by the Maldives Inland Revenue Authority (MIRA). The total, which includes both rufiyaa and dollar-denominated collections, highlights the continued strength of the Maldivian economy’s tourism-led revenue base, with USD revenues recorded at USD 157.83 million. The performance underscores how sustained visitor demand, combined with improved revenue administration, is supporting national fiscal capacity and reinforcing confidence among investors and industry partners engaged in the Maldives’ tourism ecosystem.
MIRA attributed much of the strong December performance to increased inflows from the tourism sector, reflecting the Maldives’ position as a high-performing global destination built around premium resort experiences and a consistently strong international brand. Goods and Services Tax (GST) represented the largest share of total revenue at 53.2 percent, with Tourism Sector GST forming the bulk of collections, reinforcing the pivotal role of resorts and tourism service providers in national revenue generation. Tourism Land Rent accounted for 16 percent, illustrating the significant contribution of resort lease arrangements and the broader value of tourism-linked land use. Other key streams included Green Tax at 6.8 percent, Departure Tax at 5.9 percent, Airport Development Fee at 5.4 percent, and Income Tax at 4.9 percent. The same structure was evident in USD collections, where Tourism GST alone made up just over 49 percent of total dollar revenues, highlighting the importance of foreign-currency earnings generated through resort stays, experiences, and related tourism activity.
The data indicates that the resort segment remained the core driver of December’s revenue results, benefiting from sustained demand and higher tourism throughput. Visitor arrivals in November 2025 increased by 12.8 percent compared to the same period the previous year, feeding directly into stronger collections in December from Tourism GST, Green Tax, and airport-related taxes and fees. This rise reflects the Maldives’ continued appeal to global travellers seeking high-quality, curated experiences—supported by the operational depth of resort destinations that combine accommodation, dining, excursions, wellness, marine activities, and premium services in a single integrated offering. In parallel, the revised Green Tax rates that came into effect from 1 January 2025 also supported higher overall revenue levels, strengthening the alignment between tourism activity and environmental financing mechanisms that contribute to sustainable destination management.
Beyond the main tax streams, December’s total was also strengthened by receipts from non-projected codes, demonstrating the growing role of administrative and service-based income within the overall revenue mix. MIRA noted that land acquisition and conversion fees, alongside the Corporate Social Responsibility Fee, delivered notable contributions during the month. These inflows helped push collections beyond forecast at a time of wider fiscal pressures, reflecting a diversified revenue profile that draws not only from daily economic activity but also from regulated fees tied to development, compliance, and sectoral contributions. Together, these components indicate a revenue system that is increasingly supported by both tourism performance and the broader administrative structures that underpin national planning and investment activity.
A notable feature of December’s results was the contribution from enforcement and recovery measures, pointing to enhanced compliance outcomes and more effective revenue management. Payments linked to past deadlines accounted for 21.2 percent of total collections, while targeted initiatives to recover outstanding dues contributed a further 20.3 percent. This signals that a substantial share of revenue gains was driven not only by current month activity, including tourism flows and resort operations, but also by strengthened collection processes and arrears recovery. For the business community, this trend reflects a maturing revenue environment where compliance improvements can deliver meaningful fiscal impact alongside growth in key industries.
From a longer-term perspective, MIRA’s figures show that December 2025 recorded the highest December revenue collection over the past five years, extending a trend of steadily increasing combined tax and non-tax revenues since 2023. The trajectory reflects continued reliance on tourism-linked income, anchored by the resort sector’s performance and foreign-currency generation, while also showing an expanding role for administrative fees and non-tax sources in overall government revenue. As global travel demand evolves, the Maldives’ ability to sustain strong revenue performance through both tourism strength and improved collection systems supports broader economic stability and reinforces the country’s outlook as a resilient, premium tourism market with a strengthening fiscal foundation.
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