Revenue generated from fees paid to extend the lease period of land leased for tourism purposes increased by 226.9 per cent in 2025 following amendments to the Tourism Act, according to figures released by the Maldives Inland Revenue Authority (MIRA).

Statistics published by Maldives Inland Revenue Authority show that the state received USD 64.6 million between 1 January and December 2025 from extensions of tourism land leases. This is equivalent to MVR 994.04 million.

In comparison, USD 20 million, or MVR 306.6 million, was collected in 2024 from fees paid for extending lease periods of tourism land. MIRA said the sharp increase in 2025 revenue reflects a 226.9 per cent rise year-on-year.

The amendments, which came into effect last year, revised the fee structure for extending leases of uninhabited islands and lagoons used for tourism development. Under the revised framework, land leased for an initial period of 50 years must be extended within six months of the amendment taking effect. Fees are set at USD 5 million for a 49-year extension, USD 2.5 million for a 20-year extension, and USD 3 million for a 25-year extension.

In addition, the amendment requires a lump-sum payment of USD 10 million for extensions of up to 49 years granted after ratification of the changes. The law previously stated that an annual fee of USD 100,000 should be paid for each year of the extension, payable within six months. Failure to meet the deadline results in an increased charge of USD 200,000 per year.

MIRA reported that total State revenue collected last year amounted to MVR 26 billion, alongside USD 1.4 million in foreign currency. According to the authority, revenue from tourism-related taxes and fees alone reached USD 1.3 billion, underscoring the sector’s continued contribution to the national economy.