Maldives Inland Revenue Authority (MIRA) has reported a revenue collection of MVR 1.89 billion in November 2024. 

This marks a 13.2 per cent increase compared to the same period in 2023 and is 19.7 per cent higher than the projected revenue for November 2024.

According to MIRA, the rise in revenue is largely attributed to one-time fees, including land acquisition and conversion fees, lease period extension fees, and increased tourism tax collections.

Notably, revenue from airport taxes, fees, and GST also saw an uptick. MIRA highlighted an 8.5 per cent increase in tourist arrivals in October 2024 compared to October 2023 as a key factor behind the rise in airport tax and fee collections.

GST accounted for the largest share of revenue at 57.9 per cent, equivalent to MVR 1.09 billion. Land acquisition and conversion fees contributed MVR 171.62 million, while the airport development fee brought in MVR 93.14 million (4.9 per cent). 

Departure tax and green tax collections were recorded at MVR 91.45 million (4.9 per cent) and MVR 85.73 million (4.5 per cent), respectively. Total accepted revenue for November 2024 stood at USD 88.17 million.