Higher GST Receipts and Recovery of Overdue Payments Lift October Revenue
Higher GST receipts and the recovery of overdue payments lifted collections by the Maldives Inland Revenue Authority (MIRA) to MVR 2.28 billion in October, up 11.8% from a year earlier. It was the highest October total in MIRA’s five-year comparison, with receipts in the categories covered by its forecast coming in 12.9% above expectations.
Goods and Services Tax (GST) accounted for nearly half of the MVR 241 million year-on-year increase, with both sectors contributing similar amounts. General sector GST brought in MVR 53 million more than a year earlier, while tourism GST added about MVR 60 million. Tourism GST was also MIRA’s largest source of dollar revenue, accounting for just over half of the USD 96.2 million collected during the month.
The timing of payments also shaped the result. MIRA collected about MVR 448 million through enforcement measures, including payment demands and instalment plans. That accounted for nearly a fifth of October receipts. MIRA said higher collections of outstanding dues helped lift corporate income tax and tourism land rent receipts.
The effect was also visible in airport revenue. Departure tax and the Airport Development Fee brought in a combined MVR 299.2 million, up 9.2% from a year earlier, even as tourist arrivals edged down 0.2%. MIRA attributed the rise to higher collections of dues. Green tax receipts moved in the opposite direction, falling to MVR 156.2 million from MVR 172.4 million. The figures show how payments for earlier periods can lift some tourism-related revenues even when visitor numbers are broadly flat.
Across the first ten months of 2026, MIRA collected MVR 30.12 billion, up 9.2% from the same period last year. GST brought in about MVR 1.05 billion more than a year earlier, and bank income tax added about MVR 648 million. Together, they accounted for roughly two-thirds of the increase, while non-tax revenue was broadly flat.
