The Maldives Island Revenue Authority (MIRA) collected USD 288.6 million in January, statistics have shown.
According to the data, this amount is 33.1 percent higher than the amount collected during the same period last year. However, this is still 4.9 percent below the estimate for the month.
According to MIRA, the main reasons for revenue increase included higher revenue from bank income tax, increased land sales and land transfer fees. Additionally, an uptick in Goods and Service Tax (GST) revenue from the tourism sector also contributed to the increase.
The Tourism Goods and Service Tax (TGST) rose due to a 7.4 percent increase in tourists visiting the Maldives in December 2025 compared to the same period the previous year. Filing of the second interim return for bank income tax also contributed to higher collections.
Revenue was lower than expected in some areas due to declines in business income tax, tourism GST, and departure tax from the expected amounts. While 7.6 percent of the revenue collected last month were collections from outstanding amounts from previous deadlines, 25.9 percent came from recovery of outstanding amounts, with USD 34.49 million collected. This includes USD 19.83 million collected via notices, USD 3.31 million through dues clearance, USD 0.51 million via freezing bank accounts, USD 6.22 million through phone call reminders, and USD 4.60 million under instalment agreements.
In January, the largest revenue source was GST accounting for 40.4 percent of the amount collected, with USD 116.1 million collected. Meanwhile income tax accounted for 34.7 percent, with USD 99.9 million. Land sale and transfer fees generated USD 17.6 million, and Green Tax USD 14.4 million. An additional USD 12.2 million was collected as Airport development fees, and USD 11.7 million as Departure Tax.