The Maldives Inland Revenue Authority (MIRA) recovered MVR 2 billion in outstanding tax and other dues during the first quarter of this year, according to its latest quarterly report.

The report shows that the largest share of the recoveries, amounting to MVR 1.2 billion, was collected through dunning and other enforcement actions. A further MVR 617 million was recovered through dues clearance, while MVR 151 million was collected through reminder notices, MVR 13.5 million through the bank account freeze policy, and MVR 13.1 million following the publication of defaulters' details.

During the first quarter, MIRA also issued final notices to 10,701 taxpayers who failed to submit their tax returns and 5,776 taxpayers with outstanding payments owed to the State.

The authority also continued to provide repayment arrangements for eligible taxpayers. The report also stated that payment plans totalling MVR 256 million were approved for 176 taxpayers, allowing them to settle outstanding liabilities through instalment payments.