Maldives Inland Revenue Authority (MIRA) has revealed that the state had collected MVR 1.6 billion in state revenue in August 2023.

While the figure came in at 7.7 percent lower than the agency’s estimates, this was an increase of 17.3 percent over the same period last year.

Approximately US$62 million was collected in August, representing a 21 percent increase over the estimate, correlating to higher Goods and Services Tax (GST) receipts, resort lease payments, as well as airport taxes and other airport fees.

GST accounted for the largest share of state revenue in August and stood at MVR 943 million, almost 60 percent, of total revenue. Income tax, amounting to MVR 189 million collected, was the second largest revenue source. Departure tax collection stood at MVR 87.7 million while green tax collection stood at MVR 69.5 million.

Collections in terms of non-tax state revenue included MVR 90 million as airport development fees, MVR 51 million from tourism leases and MVR 46 million as work permit fees.