The state collected USD 132.99 million in total revenue during May, falling short of official projections, according to data released by the Maldives Inland Revenue Authority. The total, including USD 88.54 million in foreign currency, represents a 5.8 per cent decrease compared with last year.
Officials attributed the decline primarily to a 19.5 per cent drop in tourist arrivals driven by the war in Western Asia, which reduced Goods and Services Tax, tourism land rent, and quota fees for migrant workers. May collections were projected to be 0.3 per cent lower this year, though figures were slightly buoyed by lease extension fees, which generated nothing last year.
Faced with constraints, the state supplemented totals through proactive enforcement, which reclaimed USD 24.78 million. Late payments constituted 13.8 per cent of revenue, while proactive campaigns secured 21.9 per cent. The authority recovered USD 15.71 million via formal notices, USD 4.42 million during dues clearance, USD 3.83 million from structured instalments, USD 600,779 through reminders, and USD 220,732 via enforcement measures.
Tax collections formed the majority of revenue. The Goods and Services Tax generated USD 74.61 million, or 56.3 per cent. Income tax brought in USD 15.18 million, and the green tax generated USD 9.02 million, a 6.8 per cent share. The airport development fee generated USD 10.25 million, departure tax brought USD 10.12 million, and work permit fees contributed USD 460,442.