Maldives' dollar revenue rises 6% to $1.3 billion in first 10 months

Revenue collected in US dollars by the Maldives Inland Revenue Authority (MIRA) increased by 6% during the first 10 months of 2026, reaching approximately USD 1.3 billion by the end of October.

According to MIRA's revenue statistics for October, dollar-denominated collections increased by USD 74 million compared with the corresponding period in 2025, when collections totalled approximately USD 1.2 billion.

Tourism Goods and Services Tax (TGST) accounted for the largest share of dollar revenue, contributing USD 622.5 million, or approximately 48% of total collections.

Corporate Income Tax was the second-largest source of dollar revenue, generating USD 149.2 million during the January–October period.

Green Tax collections amounted to USD 124.6 million, while resort land rent contributed USD 110.7 million.

Revenue from the Airport Development Fee (ADF) reached USD 110.1 million.

The figures indicate that tourism-related taxes and fees continued to account for a substantial proportion of the government's foreign currency revenue.

MIRA also reported an increase in dollar collections during October alone.

The authority collected USD 96.2 million during the month, an increase of USD 10.29 million, or 11.97%, compared with October 2025.

The latest figures show continued year-on-year growth in dollar-denominated revenue collected through MIRA, with TGST remaining the largest contributor.