The Maldives Inland Revenue Authority (MIRA) has reported a total Government revenue collection of MVR 3.38 billion for March 2025, marking a 15.1 per cent increase compared to the same month in 2024.

The growth was primarily driven by an increase in tax revenues, which accounted for 75.1 per cent of the total collections for the month.

According to MIRA, a key factor behind the rise was the extension of February’s tax deadline to March 3, 2025 following a public holiday. This shift resulted in a significant portion of February’s tax payments being reflected in March’s figures. In addition, the receipt of lease period extension fees, a discretionary payment made by taxpayers, also contributed notably to the month’s total.

Although tourist arrivals declined by 1.5 per cent in February 2025 compared to the previous year, the fall in tourism-related revenue was offset by the boost from lease period extension fees, helping to maintain strong overall performance in March.

For the first quarter of 2025, total State revenue stood at MVR 9.19 billion, up from MVR 8.89 billion in the same period last year. This represents a 3.4 per cent increase year on year. Of this, MVR 7.44 billion was generated from tax revenue, making up 81 per cent of total collections for the quarter.

MIRA also noted that the March collections exceeded initial forecasts by 26.2 per cent. In addition to the deadline shift, 6.9 per cent of the month’s revenue came from the recovery of dues related to previous tax periods.