Maldives Inland Revenue Authority (MIRA) reported USD291.2 million in revenue collection last month, which is 15.1 percent more than the same period last year.
According to last month’s revenue collection report, the actual total revenue collection is 26.1 percent more than forecasts for March this year.
MIRA said the revenue increase compared to March 2024 was primarily due to the increment in collection of tax revenues, as the tax deadlines of February 2025 were extended to 3 March, as the initial deadline coincided with a public holiday.
In addition to this, the receipt of Lease Period Extension Fee led to a favorable
increment in revenue as the fee is paid at the taxpayers’ discretion, and not as per a specific schedule, MIRA added.
According to the report, GST was the biggest revenue generator with USD123.2 million which is 57.1 percent of total revenue collections.
Tourism Land Rent was second with 11.4 percent followed by Green Tax with eight percent.
Income Tax collection in March stood at USD12.1 million, USD10.5 million in Lease Period Extension Fee while MIRA also collected USD10.2 million in Airport Development Fee.
The report said USD revenue collection for last month was USD174 million.
