MIRA collects MVR 2.8 billion in October, exceeding revenue forecast by 12.9%

The Maldives Inland Revenue Authority (MIRA) collected MVR 2.8 billion in revenue during October 2026, exceeding its forecast for the month by 12.9%.

According to the revenue collection statistics published by MIRA on Wednesday, the total included USD 96.24 million collected in foreign currency.

MIRA said revenue exceeded projections primarily due to higher collections from Goods and Services Tax (GST), Tourism Goods and Services Tax (TGST) and Non-Resident Withholding Tax.

An increase in payments recovered through efforts to collect overdue taxes and other outstanding amounts also contributed to the higher revenue.

According to the authority, collections from overdue payments accounted for 19% of total revenue received during October.

The month's revenue represented an 11.8% increase compared with the corresponding period in 2025.

GST accounted for the largest share of MIRA's revenue during October, with collections reported at MVR 1.3 billion, representing 58.9% of the total reported under the revenue breakdown.

Income Tax was another major source of revenue, generating MVR 424 million.

Other revenue sources included Green Tax, which generated MVR 156 million, and Airport Development Fee, which contributed MVR 151 million.

Departure Tax collections amounted to MVR 149 million, while Work Permit Fees generated MVR 73 million.

The figures published by MIRA also listed the following shares of revenue:

MIRA attributed the increase in October collections to higher receipts from several tax categories and the recovery of previously unpaid amounts.

The authority's figures indicate that revenue collection during the month exceeded both the budgeted forecast and the amount collected in October last year.