MIRA Collects MVR2.69 Billion in September, 12.7% above Forecast
September revenue was 10.7% lower than a year earlier, but collections for the year so far are 8.9% ahead of 2025.
The Maldives Inland Revenue Authority (MIRA) collected MVR2.69 billion in September, 12.7% more than it had forecast for the month, it said on 11 October.
According to MIRA’s monthly revenue statement, September revenue was 10.7% lower than in September 2025. Cumulative collections to the end of September were 8.9% higher than at the same point last year.
The September total included US$126.81 million.
Tourism Taxes Beat Forecast
MIRA said the main reasons revenue exceeded its forecast were higher collections of tourism-sector GST, general-sector GST, tourism land rent and corporate income tax.
It said tourist arrivals in August were 18.0% higher than projected, which increased tourism GST collections in September. That comparison is with MIRA’s projection for the month, not with arrivals in August 2025. Timely payment of tourism land rent due in September also added to the total.
Why Revenue Fell from 2025
MIRA attributed the fall from September 2025 mainly to lower collections of the lease period extension fee and general-sector GST.
It said the lease period extension fee is a one-off payment, and the amount collected in September 2025 was higher than in September this year. It also said the decline was largely due to lower collections of general-sector GST dues.
MVR623 Million Recovered
MIRA said it collected MVR623 million in September through its efforts to recover outstanding payments. This was made up of:
- MVR395 million through notices issued to taxpayers
- MVR123 million through instalment agreements
- MVR87 million through dues clearance processes
- MVR10 million through reminder phone calls
- MVR8 million recovered through its bank account freezing policy
Revenue by Source
GST remained MIRA’s largest source of revenue in September.
| Source | Amount | Share of September revenue |
|---|---|---|
| GST | MVR1.3 billion | 46.8% |
| Tourism land rent | MVR424 million | 15.8% |
| Income tax | MVR213 million | 7.9% |
| Green tax | MVR202 million | 7.5% |
| Airport development fee | MVR177 million | 6.6% |
| Departure tax | MVR173 million | 6.4% |
The two charges on departing passengers, the airport development fee and departure tax, together brought in MVR350 million.
Earlier Months
MIRA collected MVR2.42 billion in August, 14% more than in August 2025 and 24% above its forecast. It said the rise from a year earlier was mainly due to the deadline for filing and paying 2025 income tax, which was extended to 2 August because the original date fell on a public holiday.
In July, MIRA collected MVR3.41 billion. That was 0.2% more than in July 2025 but 3.6% below its forecast.
The revenue figures follow Moody’s upgrade of the Maldives to Caa1 on 8 October. The agency forecast a fiscal deficit of 8.0–8.5% of GDP in 2026 and government debt above 100% of GDP.
Returns and payments of GST, green tax, and airport taxes and fees for September are due by 28 October, according to MIRA’s filing calendar.
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