Maldives Inland Revenue Authority (MIRA) reports a revenue increment of 61.3% in October 2023, registering a total of MVR 2.01 billion; out of which 77.10 million was collected in US Dollars.
The increment was mainly due to the increment in the collection of GST, Tourism Land Rent, Expatriate Quota fee and Green Tax.
Additionally, payment deadlines in September 2023 of GST, Airport Taxes and Fees and Green Tax were extended for the first week of October, which led to a significant increase to the revenue compared to October 2022.
The revenue earned in October 2023 increased 29.7% compared to initial projections.
Top Revenue Contributors
- GST: 65.74% | MVR 1.3 billion
- Income Tax: 8.02% | MVR 161 million
- Tourism Land Rent: 7.59% | MVR 153 million
- Green Tax: 4.6% | MVR 93 million
- Airport Development Fee: 3.83% | MVR 77 million
MIRA reports the state collected MVR 1.7 billion in tax revenues and MVR 358.2 million in non-tax revenues in October 2023.