Foreign currency revenue collected by the Maldives Inland Revenue Authority (MIRA) increased by 9.6 per cent during the first six months of 2026 compared with the same period last year.

MIRA’s monthly financial figures show that USD 867.9 million was collected between January and June this year, up from USD 791.3 million during the same period in 2025. This represents an increase of USD 76.6 million.

Tax revenue collected in foreign currency reached USD 667.8 million during the period, compared with USD 609.09 million last year. This was an increase of USD 58.71 million.

Income tax revenue rose from USD 77 million during the first six months of 2025 to USD 88.1 million this year. Green Tax revenue also increased from USD 73 million to USD 79.05 million.

Tourism Goods and Services Tax generated the highest foreign currency revenue, with USD 431.4 million collected during the first half of 2026. MIRA collected USD 399.7 million from the tax during the same period last year.

Non-tax revenue collected in foreign currency stood at USD 200.1 million by the end of June, compared with USD 182.2 million during the same period in 2025. This represents an increase of 9.8 per cent.

The largest increase in non-tax foreign currency revenue was recorded in acquisition costs for land leased for tourism purposes. Revenue from this category increased from USD 6.6 million during the first half of last year to USD 39.8 million this year.

MIRA collected USD 118.5 million in foreign currency revenue in June alone. Total revenue collected during the month stood at MVR 2.92 billion, which was 14.7 per cent higher than the amount initially forecast.

The Government has introduced changes to tax regulations to increase foreign currency revenue. Under the changes, businesses and individuals earning income in foreign currency are required to pay certain taxes in foreign currency instead of Maldivian rufiyaa.