The Maldives Inland Revenue Authority (MIRA) has reported a significant increase of 93% in revenue for September, collecting a total of MVR 2.3 billion in tax and other income.
The surge is largely attributed to higher revenue from the Goods and Services Tax (GST), Tourism Goods and Services Tax (TGST), and resort lease fees.
Breaking down the figures:
- TGST contributed MVR 589 million
- GST collections reached MVR 434 million
- Income tax amounted to MVR 175 million
- Departure tax added MVR 101 million to the total revenue
Non-tax revenue was also substantial, with MVR 908 million collected in September. This includes MVR 361 million from resort lease fees and MVR 230 million from lease extension fees on lands allocated for tourism purposes.
Of the tax revenue collected last month, MVR 102 million was paid in US dollars, with 60% of this amount coming from TGST and resort fees.
For comparison, MIRA collected MVR 1.1 billion during the same period last year. The significant increase in tax revenue is largely due to higher contributions from GST, TGST, and resort rentals.
In total, the government has collected MVR 22 billion in taxes and other income over the past nine months, with MVR 18 billion coming from taxes alone.
