MIRA collects MVR 4.03 billion in tax revenue in March, including USD 205 million

Maldives Inland Revenue Authority (MIRA) saw an increase in tax revenue collected by the authority in March, with US dollar revenue rising above USD 205 million.

The monthly revenue collection report released by MIRA on Saturday shows the authority collected MVR 4.03 billion in March 2026.

This marked a 17 percent increase compared to the March 2025, and was also 26.8 percent higher than forecasts.

MIRA attributed the rise in revenue to higher collections of Tourism Goods and Services Tax (TGST), Corporate Income Tax, and Green Tax. According to MIRA, tourist arrivals in February 2026 rose by 18.8 percent compared to February 2026, boosting collections of TGST, Green Tax, and airport taxes and fees.

Meanwhile, 31.4 percent of the monthly revenue was collected through payments collected from past deadlines, while a further 7.6 percent was secured through targeted initiatives to recover outstanding dues.

As such, MIRA secured MVR 882 million in enforced collections in March 2026.

The biggest contribution to revenue came from Goods and Services Tax (GST). MIRA collected MVR 2.4 billion in GST – which made for over 59 percent of total revenue.

TOP REVENUE CONTRIBUTORS:

• GST: MVR 2.4 billion (59.6 percent)
• Resort Land Rent: MVR 440 million (10.9 percent)
• Green Tax: MVR 312 million (7.7 percent)
• Airport Development Fee: MVR 271 million (6.7 percent)
• Departure Tax: MVR 248 million (6.1 percent)
• Income Tax: MVR 198 million (4.9 percent)

The MVR 4.03 billion in revenue collections in March 2026 includes USD 205.18 million in USD revenue, marking a sharp increase from the last two months.