Revenue collections for the Maldives have shown positive growth in February 2025, reaching a total of MVR 2.47 billion. This represents a 5.4% increase compared to the same month last year, mainly due to significant one-off payments from Lease Period Extension Fees and a notable rise in Corporate Income Tax.
The Goods and Services Tax (GST) was the highest contributor, accounting for nearly half (49.8%) of the total revenue. Income Tax contributed 16.3%, while Lease Period Extension Fees brought in 12.4%. Additional significant contributors included Green Tax (6.1%), Departure Tax (4.2%), and Airport Development Fee (4.0%).
A notable increase was observed in USD revenue collection, amounting to $118 million in February. Tourism-related revenue, particularly from the Goods and Services Tax (GST), represented more than half (50.8%) of the total USD revenue, followed by Lease Period Extension Fees (16.9%) and Income Tax (9.8%).
Revenue collections for February also exceeded projections by 5.1%. This favourable outcome was significantly influenced by Lease Period Extension Fees and increased collections from Corporate Income Tax, boosted by an extension of the payment deadline due to a public holiday. Additionally, an increase in tourist arrivals in January by 11.7% compared to last year contributed to higher revenues from Green Tax and Airport Taxes & Fees.
Of the total monthly revenue, 14.8% resulted from proactive recovery of outstanding dues, further enhancing collection figures beyond initial forecasts.
