The Maldives Inland Revenue Authority (MIRA) has reported MVR 3.34 billion in total revenue for January 2025, surpassing its own projections for the month by 5 per cent.

According to MIRA's monthly revenue statistics, tax revenue accounted for MVR 3.28 billion, comprising Departure Tax, Business Profit Tax, Income Tax, Green Tax, GST, Land Sales Tax, and Remittance Tax. Meanwhile, non-tax revenue totalled MVR 312 million, with the largest contributions coming from Airport Development Fees, Work Permit Fees, and Quota Fees.

The breakdown of January's total revenue showed that GST contributed 47.7 per cent, Income Tax 35.8 per cent, Airport Development Fees 3.5 per cent, Green Tax 3.4 per cent, and Tourism Land Rent 2.0 per cent.

In USD tax revenue, MIRA collected USD 125.49 million, of which 55.1 per cent came from Tourism Goods and Services Tax (TGST), 23.0 per cent from Income Tax, 6.0 per cent from Airport Development Fees, 5.9 per cent from Departure Tax, 5.6 per cent from Green Tax, and 3.4 per cent from Tourism Land Tax.

The tax authority reported that the higher than anticipated revenue performance was supported by the timely payment of GST and Corporate Income Tax, despite an extended Income Tax deadline. Additionally, a 2 per cent increase in tourist arrivals compared to projections led to stronger tourism-related tax collections. MIRA also noted that 11 per cent of total revenue was recovered through dues recovery efforts.