The Maldives Inland Revenue Authority (MIRA) collected MVR 1.73 billion last October, statistics show. While 14.2 percent lower than over the same period in 2023, it is 30.5 percent higher than originally forecast.
The state’s chief collections agency attributed the comparative decline in collections for the October period to last year’s deferral of goods and services tax (GST) payments, airport tax, green tax, and tourism land rent to October, due to public holidays — no such deferrals were made this year.
However, October 2024 collections were higher than estimated due to increased revenue from GST, land sale and exchange fees, green tax, expatriate quota fees, and airport tax.
Tourism collections also increased by 2.1 percent in September as arrivals rose.
GST accounted for the largest share of collections in October with 63.1 percent, bringing in US$1.09 billion. Income tax was the second-highest contributor with MVR 115.54 million. Land sale and conversion fees amounted to MVR 94.71 million, while green tax and airport development fees brought in MVR 77.06 million and MVR 75.82 million, respectively.
Collections as other taxes and levies amounted to MVR 275.72 million, including US$66.27 million.
