Government dollar revenue has increased by 32 per cent during the first four months of this year, according to data released by the Maldives Inland Revenue Authority (MIRA).

Figures published by MIRA indicate that from January 1 to  April 30 this year, revenue denominated in US dollars totalled USD 551,120,640. During the corresponding period last year, the total was USD 417,125,203. This represents a year-on-year increase of 32.2 per cent.

Both tax and non-tax revenue in dollars showed growth over the previous year, as per the same data. Dollar-denominated tax revenue for the current period reached USD 439,154,411, compared to USD 351,707,084 during the same timeframe last year.

Non-tax revenue collected in US dollars also experienced a substantial increase, rising to USD 111,966,229, up from USD 65,418,119 - a 71.1 per cent year-on-year increase.

As a result, Government tax revenue rose by 25 per cent compared with the same period in the previous year.

Authorities attribute the rise in revenue to coordinated efforts between MIRA and the Ministry of Finance, particularly in the recovery of outstanding payments owed to the state through various mechanisms.

These efforts have reportedly led to greater compliance with taxation regulations and an overall increase in payments made by taxpayers.