According to the Maldives Inland Revenue Authority (MIRA), the state collected MVR 15 billion in taxes in the first 8 months of 2023.
This is approximately an MVR 3.4 billion increment compared to the same period in 2022, which is a 20% growth.
The surge in tax revenues coincided with the adjustment of tax rates, including the increase in the General Goods and Services Tax (GGST) to 8% and Tourism Goods and Services Tax (TGST) to 16% from January 2023 onwards.
The government collected MVR 6 billion so far in TGST, and MVR 2.9 billion in GGST, which marked a 34% increment compared to the same period last year.