State revenue collections in February have seen an increase of 5.4 percent in comparison to the same period last year, Maldives Inland Revenue Authority (MIRA) figures have shown.
According to figures, MIRA had collected USD160.2 million in February which is also 5.1 percent more than the expected figure for the month.
The increase was primarily down to GST collections which almost amounted to half the total revenue. GST collections in February were USD79.8 million followed by income tax revenue with USD26 million.
In addition, USD19.9 million was collected as lease period extension fees, USD9.7 million as green tax and USD6.6 million as departure tax, according to the figures. During this period, airport development fee amounted to USD6.4 million while USD revenue collection stood at 118 million.
The revenue increase in February 2025 compared to last year was primarily due to the collection of lease period extension fee and the increment in collection of corporate income tax, MIRA said.
Meanwhile, the initial deadline for corporate income tax coincided with a public holiday, leading to an extension of deadline to 2 February, which
further contributed to the increment in collections, it added.