Revenue collection in December 2025 reached MVR 3.24 billion, marking a year-on-year increase of 30.7 percent and exceeding initial forecasts by 17.4 percent, according to data released by the Maldives Inland Revenue Authority (MIRA). The total includes both rufiyaa and dollar-denominated collections, with USD revenues amounting to USD 157.83 million.
The increase was largely driven by higher inflows from the tourism sector. Goods and Services Tax accounted for the largest share of total revenue at 53.2 percent, with Tourism Sector GST forming the bulk of collections. Tourism Land Rent contributed 16 percent, followed by Green Tax at 6.8 percent, Departure Tax at 5.9 percent, Airport Development Fee at 5.4 percent, and Income Tax at 4.9 percent. A similar pattern was observed in dollar revenues, where Tourism GST alone made up just over 49 percent of total USD collections.
MIRA attributed the stronger performance partly to increased tourist arrivals. Visitor numbers in November 2025 rose by 12.8 percent compared to the same period last year, feeding into higher collections from Tourism GST, Green Tax, and airport-related taxes and fees in December. The revised Green Tax rates that came into effect from 1 January 2025 also played a role in lifting overall revenue levels.
Beyond core tax streams, December’s revenue was supported by receipts from non-projected codes. MIRA noted that land acquisition and conversion fees, along with the Corporate Social Responsibility Fee, made notable contributions during the month. These additional inflows helped push collections above forecast despite broader fiscal pressures.
A significant share of December’s revenue came from enforcement and recovery efforts. Payments linked to past deadlines accounted for 21.2 percent of total collections, while targeted initiatives to recover outstanding dues contributed a further 20.3 percent. This indicates that a substantial portion of revenue growth was linked not only to current economic activity but also to improved compliance and arrears recovery.
Looking at the longer-term trend, December 2025 recorded the highest December revenue collection over the past five years. Combined tax and non-tax revenues have steadily increased since 2023, reflecting both the continued reliance on tourism-linked income and an expanding role for administrative fees and non-tax sources in overall government revenue.
