Revenue collections by the Maldives Inland Revenue Authority (MIRA) reached MVR 2.6 billion in September 2026, surpassing monthly projections by 12.7 per cent, even as overall figures dipped 10.7 per cent compared to the same month last year.
The strong monthly forecast performance was primarily driven by higher-than-expected Goods and Services Tax (GST) receipts, corporate income tax payments, and resort lease revenues. Higher tourist arrivals up 18 per cent year-on-year, helped boost Tourism GST, while resort rent collections also beat expectations.
Despite topping projections, total revenue fell year-on-year due to declines in general GST and lower revenues from lease extension fees. Recovery efforts played a major role in the month’s figures, with past-due payments accounting for 15.8 per cent of revenue and targeted recovery initiatives contributing another 17.4 per cent.
In total, MIRA recovered MVR 623 million in outstanding dues during September through several enforcement measures:
- MVR 395 million collected via payment notices
- MVR 123 million through installment arrangements
- MVR 87 million via dues clearance procedures
- MVR 8 million through bank account freezes
Key Revenue Breakdown
- GST (Total): MVR 1.3 billion (46.8% of monthly collections)
- Resort Rent: MVR 424 million
- Income Tax: MVR 213 million
- Green Tax: MVR 202 million
- Airport Development Fee: MVR 177 million
- Departure Tax: MVR 173 million
September’s revenue included USD 126.8 million in foreign currency collections. Through the end of September, MIRA’s cumulative revenue for 2026 reached MVR 28 billion, an 8.9 per cent increase over the corresponding period in 2025 and included USD 1.2 billion in US dollar collections.
