Tax collections drive growth in revenue to MVR 26.3 billion

The state budget has received MVR 26.3 billion in revenue and grants as of 9 September 2025, an increase of 7.8 per cent compared with the same period last year.

According to the Ministry of Finance’s Weekly Fiscal Development Report, revenue growth was supported by higher tax receipts. Taxes contributed MVR 20.5 billion, or 78 per cent of total revenue.

Green tax collections rose by 104.6 per cent over the same period last year following a rate change, while departure tax receipts increased by 57.9 per cent. Personal income tax collections were up 17.3 per cent.

Revenue from airport development fees also increased by 56.8 per cent, driven by higher tourist arrivals. More than 1.5 million visitors had arrived in the Maldives by early September, a 9.7 per cent increase year-on-year. Additional growth came from land acquisition and conversion fees, lease period extensions, and resort rental income.

The Sovereign Development Fund received MVR 1.4 billion during the period, an increase of 47.9 per cent compared with last year.

By 9 September, the government had collected 66.1 per cent of the revenue and grants projected in the 2025 state budget. Expenditure stood at 51.7 per cent of the year’s allocation.