The Maldives Inland Revenue Authority (MIRA) has reported a 16 per cent increase in State revenue by the end of April compared to the same period last year.

According to statistics released by MIRA, total revenue collected in April reached MVR 2.63 billion, while dollar revenue stood at USD 120.7 million. Despite the overall increase, dollar revenue recorded a slight decline of 0.3 per cent compared to April last year. MIRA attributed the decrease mainly to lower tourist arrivals and reduced CSR fee collections.

The authority noted that tourist arrivals in April declined by 19.8 per cent compared to the same period last year, largely due to the ongoing conflict in the Middle East.

However, overall revenue remained higher than expected due to increased collections from GST, tourism land rent and work permit fees, along with the recovery of overdue tax payments.

MIRA recovered MVR 543 million in outstanding payments during April, including MVR 372 million through notices and MVR 96 million through dues clearance efforts.

GST remained the largest source of revenue, accounting for MVR 1.7 billion or 63.6 per cent of total revenue collected during the month.

Green tax revenue reached MVR 185 million, while income tax collections stood at MVR 178 million. Revenue from Airport Development Fees and Departure Tax totalled MVR 152 million each, while resort rent collections reached MVR 129 million.

MIRA stated that efforts to recover outstanding payments and strengthen revenue collection will continue under existing regulations.