MIRA collects MVR 2.69 billion in September, exceeding forecast by 12.7%

The Maldives Inland Revenue Authority (MIRA) collected MVR 2.69 billion in revenue in September 2026, exceeding its forecast for the month by 12.7%, according to figures released on Sunday.

The total includes revenue collected in foreign currency, which amounted to USD 126.81 million.

MIRA attributed the higher-than-expected collections primarily to increased Tourism Goods and Services Tax (TGST) receipts, following an 18% increase in tourist arrivals compared with projections.

The authority also cited increased efforts to recover outstanding resort and tourism land lease payments, alongside the settlement of payments due before the September deadline.

Despite exceeding projections, total revenue collected during September was 10.7% lower than in the corresponding month of 2025.

According to MIRA, 15.8% of September's revenue came from payments relating to previous periods. Of this amount, 17.4% was recovered through enforcement and collection activities targeting outstanding payments.

Goods and Services Tax (GST) accounted for the largest share of revenue, contributing MVR 1.2 billion, or 46.8% of total collections.

Revenue from lease payments for islands and land allocated for tourism amounted to MVR 424 million, representing 15.8% of the total.

Income tax contributed MVR 213 million, or 7.9%, while Green Tax generated MVR 202 million, accounting for 7.5%.

Airport Development Fee collections stood at MVR 177 million, representing 6.6% of revenue, while Departure Tax generated MVR 173 million, or 6.4%.

In foreign currency collections, TGST was the largest revenue source, generating approximately USD 52 million, or 40.6% of the total USD 126.81 million collected.

Lease payments for tourism islands and land contributed USD 28 million, accounting for 21.8% of foreign currency revenue.

Green Tax collections amounted to USD 13 million, representing 10.4%, while Airport Development Fee and Departure Tax each generated approximately USD 11 million, accounting for 9% and 8.9%, respectively.

Income tax collections in foreign currency totalled approximately USD 6 million, representing 4.4% of the total.

The September figures indicate that tourism-related taxes and lease payments remained among the principal sources of government revenue collected through MIRA, although overall collections were lower than a year earlier.