The Maldives Inland Revenue Authority (MIRA) recently reported that they collected MVR 231,503,281 during the third quarter of the current fiscal year. This revenue was obtained through various methods to recover outstanding debts owed to the state government.
MIRA’s quarterly report outlines the strategies used for debt collection. Notably, MVR 129 million was acquired through dunning activities and various transactions. Dues collection efforts yielded MVR 61 million, while reminder calls and mail correspondence resulted in the recovery of MVR 36 million. Additionally, MIRA secured MVR 3.7 million by enforcing the bank account freezing policy.
During the third quarter, MIRA issued reminders and final notices to 266 individuals who still needed to file their tax returns and 322 defaulters with unpaid dues to the state.
To facilitate debt repayment, MIRA introduced more flexible payment options in line with regulatory guidelines. In the same quarter, 46 individuals were given the opportunity to settle their dues on different dates, with the total tax amount reaching MVR 204 million.
