Nearly all of the Maldives Inland Revenue Authority’s (MIRA) income in 2024 was received through online payments, according to the authority’s latest annual report. The report reveals that 98.9 percent of the MVR 22.77 billion collected last year was processed digitally.
Tax revenue for the year outperformed expectations, coming in 9.7 percent higher than projected. Compared to 2023, overall revenue increased by 10.5 percent, reflecting both policy changes and broader economic trends.
One of the key drivers behind the rise in tax revenue was the increase in the Tourism Goods and Services Tax (TGST), which was raised to 16 percent. This policy shift coincided with an 8.76 percent rise in tourist arrivals during the same period, contributing significantly to the state’s income.
The report also notes a five percent year-on-year growth in Goods and Services Tax (GST) revenue. In addition to tax collections, MIRA reported that revenue from non-tax sources exceeded projections by 38.5 percent.
The figures highlight the growing reliance on digital platforms for tax compliance and point to the continued strength of the tourism sector in fuelling government income.
