The Maldives government collected MVR 7.21 billion total revenue in the third quarter this year, reports the Maldives Inland Revenue Authority (MIRA).
According MIRA, the total revenue for the third quarter is a 14.1% increase compared to the corresponding quarter last year, and a 22.5% increment compared to initial projections.
The authority added that this collective increase is owed to the increase in tourist arrivals for the taxable period of the third quarter by 11.0% compared to the same quarter in 2023. The taxable bed nights subject to green tax reported via the green tax returns submitted for the review quarter increased by 8.6% compared to the corresponding period last year.
Moreover, departures from June to August this year increased by 10.3%, thereby increasing both tax and non-tax receipts related to aviation.
The total tax revenue collection for the period reached MVR 5.69 billion; which is a 6.7% increment compared to the same quarter in 2023, and a 12.2% increment from initial projections. The total non-tax revenue collection for the quarter stood at MVR 1.53 billion; which is a significant 53.6% increment compared to the same quarter last year, and a staggering 85.8% jump from initial projections.