The Maldives Inland Revenue Authority (MIRA) has announced that revenue collected in June exceeded projections by 14.7%, driven by higher tax receipts from the tourism and banking sectors.
MIRA said it collected USD 124.51 million in revenue during June. The authority said this was 14.7% higher than the projected revenue for the month and represented a 10.1% increase compared with the same period last year.
According to MIRA, the stronger-than-expected performance was mainly driven by higher collections from Goods and Services Tax (GST), Bank Income Tax, Green Tax, Airport Development Fee and Departure Tax. The authority also noted that tourist arrivals in May were 1.77% higher than forecast, resulting in increased revenue from tourism-related taxes and fees.
MIRA said one-off payments, including Corporate Social Responsibility (CSR) fees, resort lease extension fees, and land sale and transfer fees, also contributed to the increase in revenue during the month.
The authority said 14.3% of the total revenue collected in June consisted of payments relating to previous tax periods. It also revealed that 23.4% of the month's revenue was recovered through efforts to collect outstanding dues.
Compared with June 2025, revenue growth in June 2026 was primarily driven by higher collections from GST, Bank Income Tax and income tax paid by corporate and other non-individual entities. MIRA said Bank Income Tax collections increased as taxpayers made advance payments before the deadline and settled their 2025 tax obligations on time. It also noted that revenue from the tourism sector increased as tourist arrivals in May 2026 rose by 1.5% compared with the same month last year.
MIRA said its enforcement efforts resulted in the recovery of USD 30.16 million in outstanding dues during June. This included USD 18.55 million recovered through notices issued to taxpayers, USD 5.12 million through dues clearance procedures, and USD 4.67 million through instalment agreements. A further USD 1.69 million was collected through reminder telephone calls, while USD 32,425 was recovered through enforcement action policies and USD 45,396 through the freezing of bank accounts.
Tourism Goods and Services Tax (TGST) accounted for the largest share of revenue collected during the month, contributing USD 70.04 million, or 37.2% of the total. Income Tax was the second-largest source of revenue, generating USD 51.82 million, or 27.4% of the total.
MIRA also collected USD 26.65 million in resort rent, USD 10.18 million in Green Tax, USD 8.75 million in Airport Development Fee, and USD 8.69 million in Departure Tax.
The authority added that the total revenue collected in June included USD 118.60 million in foreign currency.