Revenue collected by the Maldives Inland Revenue Authority (MIRA) exceeded projections by 14.7 per cent in June, reaching MVR 2.92 billion, driven by higher collections from tourism-related taxes, bank income tax and corporate taxes.

MIRA revealed that revenue collected during the month was also 10.1 per cent higher than in June 2025. The authority attributed the increase above projections mainly to stronger collections from Goods and Services Tax (GST), Bank Income Tax, Green Tax, Airport Development Fee and Departure Tax, supported by continued growth in tourism and higher non-tax revenues.

MIRA said the increase was also driven by higher collections from corporate social responsibility fees, resort lease extension fees, land sales and land transfer fees. It added that 14.3 per cent of total revenue was generated from payments made after their original due dates, while 23.4 per cent resulted from enforcement efforts to recover outstanding tax liabilities.

Compared with the same month last year, MIRA said higher GST collections, Bank Income Tax and taxes paid by companies and other non-individual taxpayers contributed significantly to the increase. Advance Bank Income Tax payments made before the filing deadline also boosted revenue. Tourist arrivals in May 2026 increased by 1.5 per cent compared with May 2025, further supporting growth in tourism-related tax revenue.

The authority also recovered MVR 465 million through compliance and enforcement measures during the month, including MVR 286 million through notices, MVR 79 million through dues clearance, MVR 72 million through instalment agreements, MVR 26 million through payment reminder calls, MVR 0.5 million through enforcement actions and MVR 0.7 million through frozen bank accounts.

Tourism Goods and Services Tax (TGST) remained the largest source of revenue, contributing MVR 1.08 billion, or 37.2 per cent of total collections. Income Tax followed with MVR 799 million (27.4 per cent), while Resort Rent generated MVR 411 million, Green Tax MVR 157 million, Airport Development Fee MVR 135 million, and Departure Tax MVR 134 million. MIRA also reported collecting USD 118.6 million in foreign currency during the month.