The Maldives Inland Revenue Authority (MIRA) has reported MVR 2.63 billion in revenue for June 2025, the highest monthly collection recorded in the past five years.

According to MIRA’s latest monthly report, tax revenues accounted for MVR 1.89 billion, while non-tax revenues contributed MVR 740 million. The June 2025 revenue reflects a 27 per cent increase compared to the same month last year.

MIRA attributed the rise in revenue primarily to higher collections from Tourism Goods and Services Tax (TGST), Green Tax, and Land Acquisition and Conversion Fees. The growth was further supported by a 13.1 per cent increase in tourist arrivals in May 2025 compared to May 2024, which led to higher proceeds from TGST, Green Tax, and Airport Taxes and Fees.

The increase in the Green Tax rate, implemented on January 1, 2025, along with higher Airport Taxes and Fees introduced in December 2024, also contributed to the revenue boost.

Goods and Services Tax (GST) was the largest contributor to total revenue at 36.5 per cent. This was followed by Income Tax at 24.1 per cent, Tourism Land Rent at 15.3 per cent, Airport Development Fee at 6.2 per cent, and Departure Tax at 5.1 per cent. TGST remained the top contributor to revenue collected in U.S. dollars.

Looking ahead, the TGST rate increase from 16 per cent to 17 per cent on July 1, 2025, is expected to contribute to continued growth in tax revenues in the coming months.