The state received MVR 2.33 billion in revenue last month, according to data released by the Maldives Inland Revenue Authority (MIRA).

The revenue collection was 33.7 percent higher than that of the same period last year and 22.3 percent higher than the February forecast.

The increase in revenue was mainly attributed to higher revenue from goods and services tax (GST), bank profit tax, and expatriate quota fees.

Tourism GST (TGST) revenue increased by 11.5 percent in February this year compared to the same period last year, attributed to increased tourist arrivals in January, MIRA data shows.

According to MIRA, the main reason for the increase in revenue over the estimated amount last month was higher GST collection, along with the collection of outstanding bank income tax and tourism rent during the period.

GST accounted for 70 percent of the revenue, with MVR 1.63 billion collected, while income tax contributed 10 percent, with MVR 246.36 million collected.

In addition, MVR 102.85 million was collected from green tax (4.4 percent), MVR 91.08 million from airport development fees (3.9 percent), MVR 89.48 million from departure tax (3.8 percent) and MVR 168.78 million from other taxes and levies (7.9 percent).

Revenue collected in February also included US$100.34 million.