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Tuesday 10 Mar 2026
LOCAL EDITION
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LOCAL EDITION
A worker wears protective gear as he restocks vegetables at a grocery store in Male' City on May 27, 2020. (Sun Photo/Fayaz Moosa)
The latest numbers shared by the Maldives Inland Revenue Authority (MIRA) shows a decline in tax revenue collected by the authority in February, including a significant fall in revenue collected in US dollars compared to the previous month.
The monthly revenue collection report released by MIRA on Sunday shows the authority collected MVR 2.80 billion in February 2026.
This marked a 0.80 percent decline compared to the February 2025, and was also 11.6 percent lower than forecasts.
The biggest contribution to revenue came from Goods and Services Tax (GST). MIRA collected MVR 1.46 billion in GST – which made for over 52 percent of total revenue.
TOP REVENUE CONTRIBUTORS:
The MVR 2.80 billion in revenue collections in February 2026 includes USD 126.85 million in USD revenue. This marks a steep 30 percent decline from January, when MIRA collected USD 180.42 million in USD revenue.
MIRA attributed the 0.8 percent decline in total revenue in February 2026 compared to February 2025 to lower collections of Lease Period Extension Fee, Airport Development Fee, and Tourism Land Rent.
According to MIRA, initial deadlines for both 2025 and 2026 coincided with a public holiday, leading to an extension of the deadlines to March. But advance payments made towards the respective deadlines in 2025 were slightly higher when compared to 2026.
Meanwhile, the 11.6 percent decline actual revenue compared to forecasts was attributed to lower collections from GST, airport taxes and fees, and Green Tax.
According to MIRA, 19 percent of the monthly revenue was collected through payments received from past deadlines, while a further 16.9 percent was secured through targeted initiatives to recover outstanding dues.
As such, MIRA secured MVR 666 million in enforced collections in February 2026.
