The state’s revenue has grown significantly this year, increasing by USD 100 million compared to the previous year, according to the Maldives Inland Revenue Authority (MIRA).

Data from MIRA reveals that taxes and other state income in November of this year reached USD 952.5 million, marking a 12 per cent rise from the USD 851.8 million collected by the end of November 2023.

The largest boost in dollar revenue this year was attributed to departure taxes, airport development fees, and the leasing of new islands for resort development. Notably, income from resort leases rose sharply to USD 23.5 million by November of this year, compared to just USD 3 million during the same period last year.

In total, state revenue collected through MIRA by November this year amounted to MVR 25.5 billion, an increase of MVR 3 billion over the previous year.